Fisher Asset Management LLC Purchases 2,987 Shares of The Gorman-Rupp Company (NYSE:GRC)

Fisher Asset Management LLC raised its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,086 shares of the industrial products company’s stock after purchasing an additional 2,987 shares during the quarter. Fisher Asset Management LLC owned 0.18% of Gorman-Rupp worth $1,873,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Gorman-Rupp by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock valued at $49,156,000 after buying an additional 17,340 shares in the last quarter. Mechanics Financial Corp lifted its position in shares of Gorman-Rupp by 105.7% in the third quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock valued at $39,450,000 after acquiring an additional 520,361 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Gorman-Rupp by 3.3% in the second quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after acquiring an additional 17,977 shares during the period. Grace & White Inc. NY grew its position in shares of Gorman-Rupp by 1.5% during the second quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock worth $12,874,000 after purchasing an additional 5,033 shares in the last quarter. Finally, Robeco Schweiz AG bought a new stake in Gorman-Rupp during the 2nd quarter valued at approximately $7,876,000. 59.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday.

Gorman-Rupp Stock Performance

GRC opened at $42.60 on Friday. 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 has a market capitalization of $1.12 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 1.83 and a beta of 0.92. The company has a fifty day moving average of $39.55 and a 200 day moving average of $37.97. The Gorman-Rupp Company has a fifty-two week low of $30.47 and a fifty-two week high of $43.79.

Gorman-Rupp Increases Dividend

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

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.