Rhumbline Advisers Acquires 8,130 Shares of Gorman-Rupp Co (GRC)
Rhumbline Advisers raised its holdings in Gorman-Rupp Co (NYSE:GRC) by 45.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,922 shares of the industrial products company’s stock after purchasing an additional 8,130 shares during the period. Rhumbline Advisers owned approximately 0.10% of Gorman-Rupp worth $840,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of GRC. Nisa Investment Advisors LLC lifted its stake in shares of Gorman-Rupp by 223.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,730 shares of the industrial products company’s stock valued at $413,000 after buying an additional 8,800 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Gorman-Rupp in the fourth quarter valued at about $26,000. Vanguard Group Inc raised its holdings in shares of Gorman-Rupp by 2.0% in the third quarter. Vanguard Group Inc now owns 1,949,450 shares of the industrial products company’s stock valued at $71,156,000 after purchasing an additional 38,681 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Gorman-Rupp in the third quarter valued at about $357,000. Finally, Vanguard Group Inc. raised its holdings in shares of Gorman-Rupp by 2.0% in the third quarter. Vanguard Group Inc. now owns 1,949,450 shares of the industrial products company’s stock valued at $71,156,000 after purchasing an additional 38,681 shares during the last quarter. 53.05% of the stock is owned by hedge funds and other institutional investors.
Shares of GRC stock opened at $34.06 on Friday. The stock has a market capitalization of $889.55 million, a PE ratio of 19.47 and a beta of 0.96. Gorman-Rupp Co has a one year low of $28.14 and a one year high of $38.26.
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 15th were issued a $0.135 dividend. The ex-dividend date was Thursday, February 14th. This represents a $0.54 annualized dividend and a dividend yield of 1.59%.
In other news, Director Christopher H. Lake sold 2,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $33.07, for a total value of $66,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.40% of the company’s stock.
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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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