Gorman-Rupp (NYSE:GRC) Reaches New 12-Month High – Time to Buy?

Gorman-Rupp Company (The) (NYSE:GRC) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $92.27 and last traded at $91.7290, with a volume of 6129 shares traded. The stock had previously closed at $90.20.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GRC. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Zacks Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings downgraded Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Gorman-Rupp Stock Performance

The stock has a market cap of $2.40 billion, a PE ratio of 40.88, a PEG ratio of 2.64 and a beta of 1.31. The stock has a fifty day simple moving average of $77.87 and a two-hundred day simple moving average of $65.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.19. The company had revenue of $176.59 million during the quarter, compared to the consensus estimate of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. Equities analysts anticipate that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 34.08%.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in shares of Gorman-Rupp during the fourth quarter valued at about $31,000. NewEdge Advisors LLC increased its position in shares of Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 379 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Gorman-Rupp by 125.0% in the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 939 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Gorman-Rupp by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Gorman-Rupp in the first quarter valued at about $89,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.