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

Shares of Gorman-Rupp Company (The) (NYSE:GRC) reached a new 52-week high on Thursday . The stock traded as high as $68.59 and last traded at $67.71, with a volume of 8603 shares. The stock had previously closed at $67.30.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gorman-Rupp currently has a consensus rating of “Buy”.

Gorman-Rupp Trading Up 1.5%

The company has a quick ratio of 1.39, a current ratio of 2.37 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $62.61 and its 200 day simple moving average is $52.83. The stock has a market capitalization of $1.80 billion, a P/E ratio of 33.99, a PEG ratio of 2.07 and a beta of 1.26.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. The firm had revenue of $166.57 million for the quarter, compared to analysts’ expectations of $167.08 million. Equities research analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were given a $0.19 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.76 annualized dividend and a yield of 1.1%. Gorman-Rupp’s payout ratio is 37.81%.

Institutional Investors Weigh In On Gorman-Rupp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cerity Partners LLC raised its position in Gorman-Rupp by 3.2% in the fourth quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock worth $228,000 after acquiring an additional 150 shares in the last quarter. Captrust Financial Advisors raised its holdings in Gorman-Rupp by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock worth $233,000 after buying an additional 163 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Gorman-Rupp by 0.4% during 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 worth $2,166,000 after buying an additional 203 shares during the period. D.A. Davidson & CO. raised its holdings in Gorman-Rupp by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 6,706 shares of the industrial products company’s stock worth $320,000 after buying an additional 229 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Gorman-Rupp by 8.5% during the 3rd quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company’s stock worth $160,000 after buying an additional 269 shares during the period. 59.26% of the stock is currently 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.