Gorman-Rupp (NYSE:GRC) Reaches New 12-Month High – Time to Buy?

Gorman-Rupp Company (The) (NYSE:GRC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $66.66 and last traded at $65.8240, with a volume of 15140 shares changing hands. The stock had previously closed at $65.93.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GRC shares. Weiss Ratings reissued 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 research report on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Gorman-Rupp has an average rating of “Buy”.

Gorman-Rupp Stock Performance

The stock has a fifty day moving average of $51.33 and a 200-day moving average of $46.72. 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 $1.73 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.25 and a beta of 1.30.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.24%. The firm had revenue of $166.57 million during the quarter, compared to the consensus estimate of $167.08 million. On average, equities analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 37.81%.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position 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 purchasing an additional 229 shares in the last quarter. SG Americas Securities LLC raised its holdings in Gorman-Rupp by 8.5% in the 3rd quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company’s stock valued at $160,000 after buying an additional 269 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Gorman-Rupp by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 276 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Gorman-Rupp by 0.7% during the second quarter. Fisher Asset Management LLC now owns 45,626 shares of the industrial products company’s stock worth $1,675,000 after purchasing an additional 312 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in Gorman-Rupp by 14.4% during the 3rd quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock worth $138,000 after buying an additional 376 shares during the period. 59.26% of the stock is owned by hedge funds and other 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.