Y Intercept Hong Kong Ltd Reduces Stake in The Gorman-Rupp Company (NYSE:GRC)

Y Intercept Hong Kong Ltd cut its holdings in shares of The Gorman-Rupp Company (NYSE:GRC) by 30.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,766 shares of the industrial products company’s stock after selling 3,765 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Gorman-Rupp were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GRC. Dimensional Fund Advisors LP boosted its stake in shares of Gorman-Rupp by 1.3% in the second 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. Renaissance Technologies LLC lifted its holdings in Gorman-Rupp by 20.7% in the second quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock valued at $4,434,000 after acquiring an additional 20,689 shares during the period. Farther Finance Advisors LLC boosted its position in Gorman-Rupp by 5,461.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 710 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Gorman-Rupp during the 3rd quarter worth approximately $470,000. Finally, Robeco Schweiz AG purchased a new position in shares of Gorman-Rupp during the 2nd quarter valued at approximately $7,876,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th.

Gorman-Rupp Stock Performance

NYSE GRC opened at $41.14 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.82 and a beta of 0.95. The stock has a 50-day moving average of $40.36 and a 200 day moving average of $38.79. The Gorman-Rupp Company has a twelve month low of $30.47 and a twelve month high of $43.79.

Gorman-Rupp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a $0.185 dividend. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, November 15th. This represents a $0.74 annualized dividend and a dividend yield of 1.80%. Gorman-Rupp’s dividend payout ratio (DPR) is 51.03%.

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.