Gorman-Rupp (NYSE:GRC) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Gorman-Rupp (NYSE:GRC) from a strong-buy rating to a buy rating in a research report report published on Saturday.

GRC has been the topic of several other research reports. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings lowered Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock opened at $83.81 on Friday. Gorman-Rupp has a 52 week low of $40.74 and a 52 week high of $92.78. The company has a quick ratio of 1.82, a current ratio of 2.81 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $82.55 and a 200-day moving average price of $71.61. The company has a market cap of $2.21 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. The company had revenue of $186.07 million for the quarter, compared to analyst estimates of $188.89 million. Equities analysts anticipate that Gorman-Rupp will post 2.67 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 14th. Gorman-Rupp’s payout ratio is 32.07%.

Hedge Funds Weigh In On Gorman-Rupp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in shares of Gorman-Rupp by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after buying an additional 25,033 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Gorman-Rupp by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock worth $2,278,000 after acquiring an additional 7,667 shares during the period. Jane Street Group LLC increased its holdings in Gorman-Rupp by 203.0% in the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after acquiring an additional 32,494 shares during the last quarter. Rhumbline Advisers increased its holdings in Gorman-Rupp by 17.4% in the 2nd quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock worth $1,354,000 after acquiring an additional 5,462 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Gorman-Rupp by 8.6% in the 2nd quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after acquiring an additional 4,020 shares during the period. 59.26% of the stock is owned by institutional investors.

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.