Charles Schwab Investment Management Inc. Sells 13,404 Shares of The Gorman-Rupp Company (NYSE:GRC)

Charles Schwab Investment Management Inc. lessened its position in The Gorman-Rupp Company (NYSE:GRC) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 172,887 shares of the industrial products company’s stock after selling 13,404 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Gorman-Rupp were worth $6,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRC. CWM LLC raised its holdings in Gorman-Rupp by 76.8% in the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 400 shares in the last quarter. SG Americas Securities LLC bought a new stake in Gorman-Rupp in the second quarter valued at about $122,000. Grace & White Inc. NY raised its position in Gorman-Rupp by 1.5% in 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. Bailard Inc. lifted its position in shares of Gorman-Rupp by 1.8% during the 2nd quarter. Bailard Inc. now owns 20,995 shares of the industrial products company’s stock worth $771,000 after buying an additional 378 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Gorman-Rupp by 23.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,611 shares of the industrial products company’s stock valued at $243,000 after buying an additional 1,248 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

GRC stock opened at $42.01 on Thursday. The stock has a market capitalization 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. 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 company has a 50 day moving average price of $40.20 and a 200 day moving average price of $38.59. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.185 per share. The ex-dividend date was Friday, November 15th. This is a boost 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 payout ratio is 51.03%.

Analyst Ratings Changes

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

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.