Gorman-Rupp Co (NYSE:GRC) Shares Bought by First Trust Advisors LP
First Trust Advisors LP lifted its position in Gorman-Rupp Co (NYSE:GRC) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,115 shares of the industrial products company’s stock after acquiring an additional 12,702 shares during the quarter. First Trust Advisors LP owned 0.92% of Gorman-Rupp worth $7,494,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Great West Life Assurance Co. Can bought a new stake in shares of Gorman-Rupp in the 4th quarter worth approximately $50,000. IFP Advisors Inc lifted its holdings in shares of Gorman-Rupp by 1,550.0% in the 4th quarter. IFP Advisors Inc now owns 1,650 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,550 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Gorman-Rupp by 33.7% in the 4th quarter. Bank of Montreal Can now owns 2,660 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 670 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Gorman-Rupp in the 1st quarter worth approximately $125,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Gorman-Rupp in the 1st quarter worth approximately $239,000. Institutional investors own 54.70% of the company’s stock.
Shares of Gorman-Rupp stock opened at $29.56 on Friday. The business’s fifty day moving average price is $28.20 and its two-hundred day moving average price is $33.55. The company has a market capitalization of $771.26 million, a P/E ratio of 23.46 and a beta of 0.69. Gorman-Rupp Co has a 1-year low of $21.49 and a 1-year high of $39.60.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, May 14th.
Several brokerages recently issued reports on GRC. Sidoti raised Gorman-Rupp from a “neutral” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, March 6th. TheStreet downgraded Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Wednesday, April 1st.
Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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.
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