Gorman-Rupp (NYSE:GRC) Hits New 12-Month High – What’s Next?

Gorman-Rupp Company (The) (NYSE:GRC)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $81.68 and last traded at $81.32, with a volume of 7757 shares trading hands. The stock had previously closed at $77.91.

Analyst Upgrades and Downgrades

GRC has been the subject of several recent analyst reports. 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 report on Thursday, May 28th. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Gorman-Rupp presently has a consensus rating of “Buy”.

Gorman-Rupp Trading Up 2.0%

The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average is $71.71 and its 200-day moving average is $60.93. The firm has a market capitalization of $2.10 billion, a P/E ratio of 35.62, a P/E/G ratio of 2.28 and a beta of 1.31.

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

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Gorman-Rupp’s dividend payout ratio is presently 34.08%.

Hedge Funds Weigh In On Gorman-Rupp

Several large investors have recently bought and sold shares of the stock. Cerity Partners LLC raised its stake in Gorman-Rupp by 3.2% during the 4th quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 150 shares during the last quarter. Captrust Financial Advisors raised its stake 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 valued at $233,000 after purchasing an additional 163 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Gorman-Rupp by 1.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,892 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 176 shares during the last quarter. Fifth Third Bancorp raised its stake in Gorman-Rupp by 14.1% during the 1st quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 180 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $2,166,000 after purchasing an additional 203 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.

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.