Gorman-Rupp (NYSE:GRC) Hits New 12-Month High – Should You Buy?

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Weiss Ratings raised shares of Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Gorman-Rupp has an average rating of “Buy”.

Gorman-Rupp Stock Performance

The firm’s fifty day moving average price is $73.32 and its 200-day moving average price is $61.99. The company has a market cap of $2.23 billion, a P/E ratio of 37.86, a P/E/G ratio of 2.50 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.

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

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.76 annualized dividend and a yield of 0.9%. Gorman-Rupp’s dividend payout ratio is 34.08%.

Institutional Trading of Gorman-Rupp

Several institutional investors have recently modified their holdings of the company. Huntington National Bank bought a new stake in shares of Gorman-Rupp during the fourth quarter valued at approximately $31,000. NewEdge Advisors LLC lifted its position in Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Gorman-Rupp during the first quarter worth $89,000. Fifth Third Bancorp boosted its stake in Gorman-Rupp by 14.1% during the first quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock worth $91,000 after buying an additional 180 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Gorman-Rupp by 125.0% in 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. Institutional investors and hedge funds 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.