Assenagon Asset Management S.A. Has $3.11 Million Stock Holdings in The Gorman-Rupp Company (NYSE:GRC)

Assenagon Asset Management S.A. raised its stake in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,770 shares of the industrial products company's stock after buying an additional 24,683 shares during the period. Assenagon Asset Management S.A. owned approximately 0.30% of Gorman-Rupp worth $3,107,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Gorman-Rupp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company's stock valued at $49,156,000 after purchasing an additional 17,340 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Gorman-Rupp by 20.7% during the second quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company's stock valued at $4,434,000 after buying an additional 20,689 shares in the last quarter. Robeco Schweiz AG acquired a new position in shares of Gorman-Rupp in the second quarter worth about $7,876,000. Creative Planning increased its position in shares of Gorman-Rupp by 19.6% in the second quarter. Creative Planning now owns 8,888 shares of the industrial products company's stock worth $326,000 after acquiring an additional 1,454 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Stock Down 4.9 %

Gorman-Rupp stock traded down $1.89 during mid-day trading on Thursday, hitting $36.95. The company's stock had a trading volume of 74,636 shares, compared to its average volume of 87,274. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.44. The Gorman-Rupp Company has a 52-week low of $28.89 and a 52-week high of $42.24. The firm's 50 day moving average is $38.19 and its 200 day moving average is $37.00. The company has a market cap of $969.12 million, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91.

Gorman-Rupp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.185 dividend. This is an increase from Gorman-Rupp's previous quarterly dividend of $0.18. The ex-dividend date is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a yield of 2.00%. Gorman-Rupp's dividend payout ratio is presently 51.03%.

Wall Street Analyst Weigh In

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

About Gorman-Rupp

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.