Gorman-Rupp (NYSE:GRC) Reaches New 1-Year High – Here’s Why

Gorman-Rupp Company (The) (NYSE:GRC) shares hit a new 52-week high during trading on Thursday . The company traded as high as $54.32 and last traded at $54.0210, with a volume of 50977 shares traded. The stock had previously closed at $52.74.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GRC. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. Wall Street Zen raised Gorman-Rupp from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Gorman-Rupp Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.25 and a current ratio of 2.08. The company’s 50 day moving average price is $49.19 and its 200-day moving average price is $45.44. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 1.81 and a beta of 1.31.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 39.79%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Gorman-Rupp in the 3rd quarter valued at about $65,000. CWM LLC lifted its position in Gorman-Rupp by 47.0% in the 3rd quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after buying an additional 464 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Gorman-Rupp by 125.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after buying an additional 939 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 1,180 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Gorman-Rupp during the third quarter valued at $108,000. 59.26% of the stock is owned by institutional investors and hedge funds.

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.