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

Gorman-Rupp Company (The) (NYSE:GRC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $57.76 and last traded at $57.0250, with a volume of 139705 shares. The stock had previously closed at $56.38.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GRC shares. Wall Street Zen raised shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Gorman-Rupp Stock Up 1.1%

The company’s 50 day moving average price is $50.04 and its two-hundred day moving average price is $46.02. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.50 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.93 and a beta of 1.30.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $0.19 per share. 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 1.3%. Gorman-Rupp’s payout ratio is 39.79%.

Hedge Funds Weigh In On Gorman-Rupp

Several institutional investors have recently made changes to their positions in GRC. Gabelli Funds LLC raised its holdings in shares of Gorman-Rupp by 0.9% in the second 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. raised its holdings in shares of Gorman-Rupp by 2.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock valued at $34,985,000 after purchasing an additional 15,178 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Gorman-Rupp by 0.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 596,550 shares of the industrial products company’s stock worth $27,686,000 after purchasing an additional 3,562 shares during the period. Geode Capital Management LLC boosted its stake in shares of Gorman-Rupp by 3.0% during the second quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock valued at $19,117,000 after purchasing an additional 14,997 shares in the last quarter. Finally, Grace & White Inc. NY increased its holdings in Gorman-Rupp by 0.5% during the second quarter. Grace & White Inc. NY now owns 349,291 shares of the industrial products company’s stock valued at $12,826,000 after buying an additional 1,632 shares during the period. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

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.