Dimensional Fund Advisors LP Has $34.65 Million Stake in The Gorman

Jan 08, 2024

Dimensional Fund Advisors LP trimmed its position in shares of The Gorman-Rupp Company (NYSE:GRC - Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,352,634 shares of the industrial products company's stock after selling 23,543 shares during the period. Dimensional Fund Advisors LP owned 5.18% of Gorman-Rupp worth $34,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GRC. Russell Investments Group Ltd. acquired a new position in shares of Gorman-Rupp in the third quarter valued at $864,000. KBC Group NV boosted its position in shares of Gorman-Rupp by 2.5% in the third quarter. KBC Group NV now owns 179,611 shares of the industrial products company's stock valued at $4,273,000 after acquiring an additional 4,425 shares during the period. Cooke & Bieler LP boosted its position in shares of Gorman-Rupp by 17.0% in the fourth quarter. Cooke & Bieler LP now owns 491,580 shares of the industrial products company's stock valued at $12,594,000 after acquiring an additional 71,267 shares during the period. Quantbot Technologies LP bought a new stake in shares of Gorman-Rupp in the second quarter valued at about $28,000. Finally, Swiss National Bank boosted its position in shares of Gorman-Rupp by 1.8% in the fourth quarter. Swiss National Bank now owns 50,347 shares of the industrial products company's stock valued at $1,290,000 after acquiring an additional 900 shares during the period. 59.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of Gorman-Rupp stock opened at $24.27 on Friday. The Gorman-Rupp Company has a 52-week low of $22.67 and a 52-week high of $31.04. The firm has a 50-day moving average of $24.53 and a 200-day moving average of $26.04. 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 stock has a market cap of $635.34 million, a PE ratio of 62.23 and a beta of 0.80.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Monday, May 15th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.70 annualized dividend and a yield of 2.88%. Gorman-Rupp's dividend payout ratio is 179.49%.

Separately, StockNews.com began coverage on shares of Gorman-Rupp in a research report on Thursday, May 18th. They issued 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.

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