PDT Partners LLC Buys New Holdings in The Gorman-Rupp Company (NYSE:GRC)

PDT Partners LLC bought a new stake in The Gorman-Rupp Company (NYSE:GRC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,595 shares of the industrial products company’s stock, valued at approximately $374,000.

Several other hedge funds have also bought and sold shares of GRC. Price T Rowe Associates Inc. MD lifted its stake in Gorman-Rupp by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,645 shares of the industrial products company’s stock valued at $659,000 after purchasing an additional 980 shares during the last quarter. Mather Group LLC. lifted its stake in Gorman-Rupp by 517.0% in the 2nd quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,339 shares during the last quarter. CWM LLC lifted its stake in Gorman-Rupp by 76.8% in the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 400 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Gorman-Rupp in the 2nd quarter valued at about $122,000. Finally, Grace & White Inc. NY raised its holdings in Gorman-Rupp by 1.5% in the 2nd quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock valued at $12,874,000 after acquiring an additional 5,033 shares during the period. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 Down 0.5 %

Gorman-Rupp stock opened at $42.62 on Wednesday. The stock has a market cap of $1.12 billion, a P/E ratio of 29.39, a P/E/G ratio of 1.85 and a beta of 0.95. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The Gorman-Rupp Company has a twelve month low of $30.47 and a twelve month high of $43.79. The company’s 50-day moving average price is $39.80 and its two-hundred day moving average price is $38.26.

Gorman-Rupp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.185 dividend. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, November 15th. Gorman-Rupp’s dividend payout ratio is currently 51.03%.

Gorman-Rupp 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.