Gorman-Rupp (NYSE:GRC) Sees Large Volume Increase – Time to Buy?

Shares of Gorman-Rupp Company (The) (NYSE:GRC) saw an uptick in trading volume on Wednesday . Approximately 146,629 shares changed hands during trading, a decline of 5% from the previous session’s volume of 153,773 shares.The stock last traded at $89.07 and had previously closed at $91.74.

Analyst Ratings Changes

A number of research firms have recently issued reports on GRC. Weiss Ratings downgraded shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Zacks Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Freedom Capital raised Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Gorman-Rupp Price Performance

The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 40.15, a P/E/G ratio of 2.67 and a beta of 1.31. The stock has a fifty day moving average of $78.33 and a 200 day moving average of $65.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.76.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.19. The company 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%. On average, analysts expect that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. Gorman-Rupp’s payout ratio is currently 34.08%.

Hedge Funds Weigh In On Gorman-Rupp

A number of hedge funds have recently bought and sold shares of GRC. Goldman Sachs Group Inc. increased its position in shares of Gorman-Rupp by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after buying an additional 25,033 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Gorman-Rupp by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock valued at $2,278,000 after buying an additional 7,667 shares in the last quarter. Jane Street Group LLC grew its stake in Gorman-Rupp by 203.0% in the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock valued at $1,702,000 after acquiring an additional 32,494 shares during the period. Rhumbline Advisers grew its stake in Gorman-Rupp by 17.4% in the 2nd quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock valued at $1,354,000 after acquiring an additional 5,462 shares during the period. Finally, American Century Companies Inc. increased its holdings in Gorman-Rupp by 8.6% in the 2nd quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock worth $1,864,000 after acquiring an additional 4,020 shares in the last quarter. Hedge funds and other institutional investors 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.