Victory Capital Management Inc. Has $2.51 Million Holdings in The Gorman

Jan 09, 2024

Victory Capital Management Inc. lessened its stake in The Gorman-Rupp Company (NYSE:GRC - Get Rating) by 63.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,507 shares of the industrial products company's stock after selling 149,873 shares during the period. Victory Capital Management Inc. owned 0.34% of Gorman-Rupp worth $2,514,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Gorman-Rupp by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,143,408 shares of the industrial products company's stock valued at $50,992,000 after acquiring an additional 28,537 shares during the last quarter. Cooke & Bieler LP boosted its stake in Gorman-Rupp by 17.0% in the 4th quarter. Cooke & Bieler LP now owns 491,580 shares of the industrial products company's stock worth $12,594,000 after purchasing an additional 71,267 shares during the period. State Street Corp boosted its stake in Gorman-Rupp by 1.6% in the 3rd quarter. State Street Corp now owns 477,417 shares of the industrial products company's stock worth $11,358,000 after purchasing an additional 7,463 shares during the period. Bank of New York Mellon Corp boosted its stake in Gorman-Rupp by 16.5% in the 1st quarter. Bank of New York Mellon Corp now owns 411,328 shares of the industrial products company's stock worth $14,759,000 after purchasing an additional 58,348 shares during the period. Finally, Invesco Ltd. boosted its stake in Gorman-Rupp by 10.1% in the 1st quarter. Invesco Ltd. now owns 243,043 shares of the industrial products company's stock worth $8,720,000 after purchasing an additional 22,230 shares during the period. Institutional investors own 59.79% of the company's stock.

Shares of GRC stock opened at $24.89 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.27 and a current ratio of 2.49. The firm's 50-day moving average is $24.52 and its 200-day moving average is $26.10. The stock has a market cap of $651.62 million, a price-to-earnings ratio of 63.82 and a beta of 0.80. The Gorman-Rupp Company has a 52-week low of $22.67 and a 52-week high of $31.04.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Monday, May 15th will be issued a $0.175 dividend. The ex-dividend date is Friday, May 12th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.81%. Gorman-Rupp's payout ratio is 179.49%.

Separately, StockNews.com started coverage on shares of Gorman-Rupp in a research note on Thursday, May 18th. They set a "hold" rating for the company.

The Gorman-Rupp Co engages in the design, manufacture, and global marketing of pumps and pump systems. Its pump models include self-priming centrifugal, standard centrifugal, submersible, rotary gear, diaphragm, engine-driven, and priming assist pumps as well as packaged pump stations. The firm offers its products to fire protection, municipal, industrial, agriculture, construction, petroleum, and original equipment manufacturer.

Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Gorman-Rupp Company (NYSE:GRC - Get Rating).

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