Dimensional Fund Advisors LP Buys 17,340 Shares of The Gorman-Rupp Company (NYSE:GRC)

Dimensional Fund Advisors LP boosted its stake in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,339,069 shares of the industrial products company's stock after acquiring an additional 17,340 shares during the quarter. Dimensional Fund Advisors LP owned 5.11% of Gorman-Rupp worth $49,156,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Gorman-Rupp by 76.8% during the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company's stock worth $34,000 after purchasing an additional 400 shares during the last quarter. Mather Group LLC. increased its stake in shares of Gorman-Rupp by 517.0% during the 2nd quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company's stock worth $63,000 after purchasing an additional 1,339 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Gorman-Rupp by 63.8% during the 1st quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company's stock worth $80,000 after purchasing an additional 797 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Gorman-Rupp during the 1st quarter worth about $82,000. Finally, SG Americas Securities LLC acquired a new position in Gorman-Rupp in the 2nd quarter valued at about $122,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Stock Performance

GRC traded up $0.33 on Monday, reaching $38.94. The company had a trading volume of 95,982 shares, compared to its average volume of 92,230. The Gorman-Rupp Company has a fifty-two week low of $28.87 and a fifty-two week high of $42.24. The stock has a market cap of $1.02 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.61 and a beta of 0.92. The company's fifty day moving average is $38.37 and its 200 day moving average is $36.98. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.44 and a current ratio of 2.45.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its earnings results on Friday, July 26th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.10. Gorman-Rupp had a net margin of 5.20% and a return on equity of 11.39%. The firm had revenue of $169.51 million for the quarter, compared to analyst estimates of $174.44 million. As a group, analysts predict that The Gorman-Rupp Company will post 1.85 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. Gorman-Rupp's payout ratio is presently 52.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, August 6th.

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.