Gorman-Rupp (NYSE:GRC) Reaches New 1-Year High – Time to Buy?

Gorman-Rupp Company (The) (NYSE:GRC)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $84.99 and last traded at $85.90, with a volume of 198 shares changing hands. The stock had previously closed at $84.59.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings downgraded Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Freedom Capital raised Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Gorman-Rupp Stock Down 0.3%

The stock has a market cap of $2.25 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.53 and a beta of 1.31. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $74.23 and a 200-day moving average price of $62.54.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.19. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%.The firm had revenue of $176.59 million for the quarter, compared to analyst estimates of $170.61 million. As a group, analysts forecast that Gorman-Rupp Company will post 2.6 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.19 per share. The ex-dividend date was Friday, May 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.9%. Gorman-Rupp’s dividend payout ratio (DPR) is 34.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC lifted its position in shares of Gorman-Rupp by 3.2% during the 4th quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock valued at $228,000 after buying an additional 150 shares in the last quarter. Captrust Financial Advisors raised its stake in Gorman-Rupp by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 163 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Gorman-Rupp by 1.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,892 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 176 shares during the last quarter. Fifth Third Bancorp raised its stake in Gorman-Rupp by 14.1% in the 1st quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 180 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Gorman-Rupp by 0.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company’s stock valued at $2,166,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors 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.