Gorman-Rupp (NYSE:GRC) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Gorman-Rupp Company (The) (NYSE:GRC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $59.79 and traded as high as $76.23. Gorman-Rupp shares last traded at $75.82, with a volume of 80,558 shares.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRC. Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings upgraded shares of Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Gorman-Rupp Price Performance

The stock’s 50-day moving average price is $70.81 and its 200 day moving average price is $60.22. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 2.24 and a beta of 1.31. The company has a quick ratio of 1.76, a current ratio of 2.93 and a debt-to-equity ratio of 0.69.

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

Gorman-Rupp Announces Dividend

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

Institutional Investors Weigh In On Gorman-Rupp

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in shares of Gorman-Rupp by 211.6% in the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock valued at $39,655,000 after buying an additional 564,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Gorman-Rupp by 2.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock valued at $34,985,000 after purchasing an additional 15,178 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Gorman-Rupp by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company’s stock valued at $28,627,000 after purchasing an additional 2,970 shares during the period. First Trust Advisors LP grew its holdings in shares of Gorman-Rupp by 326.1% in the first quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock valued at $32,581,000 after purchasing an additional 401,340 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Gorman-Rupp by 1,056.7% in the first quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock valued at $18,778,000 after purchasing an additional 276,101 shares during the period. 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.