Gorman-Rupp (NYSE:GRC) Sets New 52-Week High – Time to Buy?

Gorman-Rupp Company (The) (NYSE:GRC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $49.50 and last traded at $49.2550, with a volume of 8054 shares. The stock had previously closed at $49.02.

Wall Street Analysts Forecast Growth

Several research firms have commented on GRC. Wall Street Zen raised Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Gorman-Rupp presently has a consensus rating of “Buy”.

Gorman-Rupp Price Performance

The company has a market cap of $1.30 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.79 and a beta of 1.29. The company has a 50-day simple moving average of $45.83 and a 200-day simple moving average of $42.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.25 and a current ratio of 2.08.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%.The business had revenue of $172.83 million for the quarter, compared to analyst estimates of $174.61 million. As a group, research analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were issued a $0.19 dividend. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, November 14th. Gorman-Rupp’s dividend payout ratio is 39.79%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC lifted its position in shares of Gorman-Rupp by 0.9% in the 2nd quarter. Gabelli Funds LLC now owns 773,664 shares of the industrial products company’s stock valued at $28,409,000 after acquiring an additional 7,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Gorman-Rupp by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company’s stock worth $26,540,000 after buying an additional 53,006 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Gorman-Rupp by 0.6% during the third quarter. Gamco Investors INC. ET AL now owns 596,550 shares of the industrial products company’s stock valued at $27,686,000 after buying an additional 3,562 shares in the last quarter. Geode Capital Management LLC boosted its position in Gorman-Rupp by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock worth $19,117,000 after acquiring an additional 14,997 shares during the period. Finally, Grace & White Inc. NY grew its stake in Gorman-Rupp by 0.5% during the 2nd quarter. Grace & White Inc. NY now owns 349,291 shares of the industrial products company’s stock valued at $12,826,000 after acquiring an additional 1,632 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

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.