BNP Paribas Financial Markets Sells 2,546 Shares of The Gorman-Rupp Company (NYSE:GRC)

BNP Paribas Financial Markets trimmed its holdings in shares of The Gorman-Rupp Company (NYSE:GRC) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,465 shares of the industrial products company’s stock after selling 2,546 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Gorman-Rupp worth $797,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC lifted its holdings in Gorman-Rupp by 76.8% during the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after buying an additional 400 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Gorman-Rupp during the second quarter valued at approximately $122,000. Grace & White Inc. NY raised its stake 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 valued at $12,874,000 after acquiring an additional 5,033 shares in the last quarter. Bailard Inc. boosted its holdings in shares of Gorman-Rupp by 1.8% in the second quarter. Bailard Inc. now owns 20,995 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 378 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Gorman-Rupp by 23.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,611 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 1,248 shares in the last quarter. 59.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Gorman-Rupp Stock Up 0.8 %

NYSE:GRC opened at $42.01 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The Gorman-Rupp Company has a 1-year low of $30.47 and a 1-year high of $43.79. The company has a 50-day moving average of $40.20 and a 200 day moving average of $38.59. The firm has a market cap of $1.10 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95.

Gorman-Rupp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.76%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 51.03%.

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.