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The Gorman-Rupp Company (NYSE:GRC - Get Rating) Chairman Jeffrey S. Gorman acquired 5,000 shares of the firm's stock in a transaction on Wednesday, August 24th. The stock was purchased at an average price of $26.29 per share, for a total transaction of $131,450.00. Following the transaction, the chairman now directly owns 128,656 shares of the company's stock, valued at approximately $3,382,366.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Gorman-Rupp Stock Performance

GRC stock traded down $0.42 on Friday, hitting $26.11. The company had a trading volume of 1,053 shares, compared to its average volume of 62,246. The Gorman-Rupp Company has a 12-month low of $25.73 and a 12-month high of $47.12. The stock has a market cap of $681.21 million, a price-to-earnings ratio of 31.58 and a beta of 0.64. The company has a current ratio of 2.42, a quick ratio of 1.33 and a debt-to-equity ratio of 1.27. The stock's 50-day simple moving average is $28.11 and its 200 day simple moving average is $31.93. Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.60%. Gorman-Rupp's payout ratio is 80.95%. Institutional Trading of Gorman-Rupp

Several institutional investors have recently made changes to their positions in GRC. Vanguard Group Inc. increased its holdings in shares of Gorman-Rupp by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,083,871 shares of the industrial products company's stock worth $74,769,000 after purchasing an additional 8,477 shares during the last quarter. First Trust Advisors LP raised its stake in Gorman-Rupp by 11.6% in the fourth quarter. First Trust Advisors LP now owns 579,578 shares of the industrial products company's stock worth $25,820,000 after buying an additional 60,124 shares in the last quarter. State Street Corp increased its position in Gorman-Rupp by 2.8% during the 2nd quarter. State Street Corp now owns 469,954 shares of the industrial products company's stock valued at $13,300,000 after buying an additional 12,855 shares in the last quarter. Cooke & Bieler LP raised its stake in Gorman-Rupp by 26.9% in the second quarter. Cooke & Bieler LP now owns 427,228 shares of the industrial products company's stock valued at $12,091,000 after buying an additional 90,660 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Gorman-Rupp by 22.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 418,149 shares of the industrial products company's stock worth $18,629,000 after acquiring an additional 76,787 shares in the last quarter. Hedge funds and other institutional investors own 55.88% of the company's stock. Analyst Upgrades and Downgrades

Several research firms recently issued reports on GRC. StockNews.com raised Gorman-Rupp from a "sell" rating to a "hold" rating in a research note on Thursday, August 18th. TheStreet lowered Gorman-Rupp from a "b-" rating to a "c+" rating in a research report on Wednesday, June 8th.Gorman-Rupp Company Profile (Get Rating)

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.See AlsoGet a free copy of the StockNews.com research report on Gorman-Rupp (GRC)Institutional Buying Put A Bottom In Marvell Technology Dell Stock Retreats On Weaker Sales, Falls Into Value Terrirtory3 Reasons Dollar General’s Rally Has LegsSalesforce Stock Could Have Long Term Potential After EarningsShould AbbVie Inc. Have a Place in Your Dividend Portfolio? 

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