Gorman-Rupp (NYSE:GRC) Stock Rating Upgraded by StockNews.com

Gorman-Rupp (NYSE:GRC) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Gorman-Rupp Stock Performance

GRC traded down $0.32 during trading hours on Wednesday, hitting $41.35. The company’s stock had a trading volume of 54,041 shares, compared to its average volume of 87,318. Gorman-Rupp has a fifty-two week low of $30.32 and a fifty-two week high of $42.89. The company has a 50-day simple moving average of $38.53 and a 200 day simple moving average of $37.34. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.08 billion, a PE ratio of 28.52, a PEG ratio of 1.80 and a beta of 0.92.

Institutional Trading of Gorman-Rupp

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in shares of Gorman-Rupp by 101.1% during the first quarter. BNP Paribas Financial Markets now owns 18,455 shares of the industrial products company’s stock worth $730,000 after buying an additional 9,278 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Gorman-Rupp by 2.3% in the first quarter. Russell Investments Group Ltd. now owns 72,344 shares of the industrial products company’s stock valued at $2,861,000 after purchasing an additional 1,639 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Gorman-Rupp by 147.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 18,360 shares of the industrial products company’s stock valued at $726,000 after purchasing an additional 10,946 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Gorman-Rupp by 413.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 7,157 shares of the industrial products company’s stock worth $283,000 after buying an additional 5,762 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Gorman-Rupp in the 1st quarter valued at $131,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.