Gorman-Rupp (NYSE:GRC) Sets New 52-Week High – What’s Next?

Shares of Gorman-Rupp Company (The) (NYSE:GRC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $92.27 and last traded at $91.7290, with a volume of 6129 shares. The stock had previously closed at $90.20.

Analysts Set New Price Targets

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

Gorman-Rupp Stock Up 0.9%

The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 2.64 and a beta of 1.31. The stock has a 50 day moving average of $77.87 and a 200 day moving average of $65.20. 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 announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%.The firm had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. As a group, analysts expect that Gorman-Rupp Company will post 2.6 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

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

Institutional Investors Weigh In On Gorman-Rupp

Several institutional investors and hedge funds have recently made changes to their positions in GRC. Huntington National Bank bought a new position in Gorman-Rupp during the fourth quarter worth $31,000. NewEdge Advisors LLC boosted its holdings in Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares during the period. Osaic Holdings Inc. increased 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 valued at $62,000 after purchasing an additional 939 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Gorman-Rupp by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in Gorman-Rupp during the first quarter valued at $89,000. 59.26% of the stock is owned by institutional investors and hedge funds.

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.