Farther Finance Advisors LLC Increases Holdings in The Gorman-Rupp Company (NYSE:GRC)

Farther Finance Advisors LLC raised its stake in The Gorman-Rupp Company (NYSE:GRC) by 5,461.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 723 shares of the industrial products company’s stock after purchasing an additional 710 shares during the quarter. Farther Finance Advisors LLC’s holdings in Gorman-Rupp were worth $28,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new position in Gorman-Rupp during the 3rd quarter worth approximately $29,000. nVerses Capital LLC acquired a new position in shares of Gorman-Rupp during the third quarter worth $31,000. CWM LLC boosted its stake in shares of Gorman-Rupp by 76.8% in the second 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 period. Copeland Capital Management LLC acquired a new stake in Gorman-Rupp during the 3rd quarter valued at $58,000. Finally, Mather Group LLC. grew its holdings in Gorman-Rupp by 517.0% during 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 in the last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Gorman-Rupp Stock Performance

Gorman-Rupp stock opened at $40.74 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $38.73 and a 200-day moving average of $37.42. The stock has a market cap of $1.07 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The Gorman-Rupp Company has a 52 week low of $30.47 and a 52 week high of $42.89.

Gorman-Rupp Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date 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.