Barclays PLC Acquires 26,455 Shares of The Gorman-Rupp Company (NYSE:GRC)

Barclays PLC lifted its position in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 317.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,777 shares of the industrial products company's stock after purchasing an additional 26,455 shares during the quarter. Barclays PLC owned 0.13% of Gorman-Rupp worth $1,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRC. Zacks Investment Management acquired a new position in shares of Gorman-Rupp in the 3rd quarter valued at $235,000. Point72 Asset Management L.P. bought a new stake in Gorman-Rupp in the third quarter valued at about $62,000. Needham Investment Management LLC raised its position in Gorman-Rupp by 218.8% in the third quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company's stock worth $4,966,000 after purchasing an additional 87,500 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gorman-Rupp during the third quarter valued at approximately $209,000. Finally, PDT Partners LLC bought a new stake in shares of Gorman-Rupp in the 3rd quarter valued at approximately $374,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Price Performance

Shares of NYSE GRC traded up $0.60 during midday trading on Monday, reaching $36.44. 39,000 shares of the company traded hands, compared to its average volume of 55,857. The Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $43.79. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The stock's 50-day simple moving average is $40.30 and its 200-day simple moving average is $39.02. The firm has a market cap of $955.75 million, a PE ratio of 25.13, a PEG ratio of 1.75 and a beta of 0.97.

Gorman-Rupp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a dividend of $0.185 per share. This is an increase from Gorman-Rupp's previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, November 15th. Gorman-Rupp's dividend payout ratio (DPR) is currently 51.03%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 29th.

Gorman-Rupp Company 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.