Gorman-Rupp (NYSE:GRC) Shares Gap Down – Should You Sell?

Shares of Gorman-Rupp Company (The) (NYSE:GRC) gapped down before the market opened on Thursday . The stock had previously closed at $71.52, but opened at $67.78. Gorman-Rupp shares last traded at $67.7260, with a volume of 3,556 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Gorman-Rupp currently has an average rating of “Buy”.

Gorman-Rupp Stock Up 1.3%

The business has a fifty day moving average of $64.21 and a 200 day moving average of $53.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.37 and a quick ratio of 1.39. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.24 and a beta of 1.26.

Gorman-Rupp (NYSE:GRC) last posted its earnings results 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. The company had revenue of $166.57 million for the quarter, compared to the consensus estimate of $167.08 million. Gorman-Rupp had a return on equity of 14.06% and a net margin of 7.77%. As a group, equities analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, February 13th. Gorman-Rupp’s dividend payout ratio (DPR) is 37.81%.

Institutional Investors Weigh In On Gorman-Rupp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank acquired a new stake in Gorman-Rupp in the 4th quarter valued at approximately $31,000. NewEdge Advisors LLC raised its position in Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 379 shares during the period. Osaic Holdings Inc. lifted its stake in Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 939 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Gorman-Rupp during the third quarter worth $65,000. Finally, CWM LLC boosted its position in shares of Gorman-Rupp by 47.0% during the third quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after buying an additional 464 shares during the period. 59.26% of the stock is owned by hedge funds and other institutional investors.

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.