Creative Financial Designs Inc. ADV Increases Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Creative Financial Designs Inc. ADV grew its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 3.7% in the third quarter, HoldingsChannel reports. The firm owned 20,012 shares of the industrial products company’s stock after buying an additional 710 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Gorman-Rupp were worth $779,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Robeco Schweiz AG purchased a new stake in shares of Gorman-Rupp during the 2nd quarter worth approximately $7,876,000. Assenagon Asset Management S.A. raised its stake in Gorman-Rupp by 44.8% during the third quarter. Assenagon Asset Management S.A. now owns 79,770 shares of the industrial products company’s stock valued at $3,107,000 after purchasing an additional 24,683 shares in the last quarter. Renaissance Technologies LLC lifted its position in Gorman-Rupp by 20.7% during the second quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock valued at $4,434,000 after purchasing an additional 20,689 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Gorman-Rupp by 3.3% in the 2nd quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after buying an additional 17,977 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Gorman-Rupp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock worth $49,156,000 after buying an additional 17,340 shares during the last quarter. 59.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Gorman-Rupp Price Performance

Shares of Gorman-Rupp stock opened at $37.23 on Friday. The stock has a market cap of $976.54 million, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.44 and a current ratio of 2.39. The stock has a 50 day moving average price of $38.16 and a 200-day moving average price of $37.00. The Gorman-Rupp Company has a one year low of $29.75 and a one year high of $42.24.

Gorman-Rupp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.74 annualized dividend and a dividend yield of 1.99%. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s dividend payout ratio is currently 49.66%.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.