The Gorman-Rupp Company (NYSE:GRC) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP boosted its stake in The Gorman-Rupp Company (NYSE:GRC) by 14.6% in the 3rd quarter, Holdings Channel reports. The firm owned 228,862 shares of the industrial products company’s stock after buying an additional 29,198 shares during the quarter. First Trust Advisors LP’s holdings in The Gorman-Rupp were worth $6,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV grew its stake in shares of The Gorman-Rupp by 5.3% during the third quarter. KBC Group NV now owns 99,104 shares of the industrial products company’s stock valued at $2,920,000 after acquiring an additional 4,951 shares in the last quarter. American International Group Inc. lifted its holdings in The Gorman-Rupp by 3.2% in the second quarter. American International Group Inc. now owns 10,766 shares of the industrial products company’s stock worth $335,000 after acquiring an additional 335 shares during the last quarter. Vanguard Group Inc. lifted its holdings in The Gorman-Rupp by 11.9% in the second quarter. Vanguard Group Inc. now owns 2,019,462 shares of the industrial products company’s stock worth $62,765,000 after acquiring an additional 214,957 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in The Gorman-Rupp by 6.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 116,624 shares of the industrial products company’s stock worth $3,625,000 after acquiring an additional 7,018 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of The Gorman-Rupp by 80.7% in the second quarter. SG Americas Securities LLC now owns 7,263 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 3,243 shares during the period. Hedge funds and other institutional investors own 54.28% of the company’s stock.

Separately, TheStreet upgraded shares of The Gorman-Rupp from a “c+” rating to a “b-” rating in a research note on Monday, August 10th.

In other The Gorman-Rupp news, Director Christopher H. Lake sold 1,500 shares of The Gorman-Rupp stock in a transaction on Monday, November 9th. The shares were sold at an average price of $35.51, for a total transaction of $53,265.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Angela M. Morehead sold 1,486 shares of The Gorman-Rupp stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $34.33, for a total transaction of $51,014.38. Following the sale, the treasurer now directly owns 501 shares of the company’s stock, valued at approximately $17,199.33. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

The Gorman-Rupp stock opened at $33.78 on Friday. The firm has a market cap of $881.73 million, a price-to-earnings ratio of 32.80 and a beta of 0.59. The Gorman-Rupp Company has a 1 year low of $21.49 and a 1 year high of $39.60. The firm’s 50 day moving average price is $32.79 and its two-hundred day moving average price is $31.35.

The Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, October 23rd. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The Gorman-Rupp had a net margin of 7.42% and a return on equity of 9.30%.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be paid a $0.155 dividend. This is a positive change from The Gorman-Rupp’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 12th. This represents a $0.62 dividend on an annualized basis and a yield of 1.84%.

The Gorman-Rupp 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.

Further Reading: What is the Coverage Ratio?

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Institutional Ownership by Quarter for The Gorman-Rupp (NYSE:GRC)

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