Gorman-Rupp (NYSE:GRC) Reaches New 1-Year High – Here’s What Happened

Gorman-Rupp Company (The) (NYSE:GRC) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $68.59 and last traded at $67.71, with a volume of 8603 shares trading hands. The stock had previously closed at $67.30.

Wall Street Analyst Weigh In

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

Gorman-Rupp Trading Up 1.5%

The company has a market cap of $1.80 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 2.07 and a beta of 1.26. 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 firm’s fifty day moving average price is $62.61 and its 200-day moving average price is $52.83.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. The company had revenue of $166.57 million during the quarter, compared to the consensus estimate of $167.08 million. On average, equities analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

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

Institutional Investors Weigh In On Gorman-Rupp

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its holdings in 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 worth $39,655,000 after purchasing an additional 564,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 worth $34,985,000 after purchasing an additional 15,178 shares during the period. Gamco Investors INC. ET AL lifted its holdings in 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 worth $28,627,000 after purchasing an additional 2,970 shares during the period. Goldman Sachs Group Inc. lifted its holdings in 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 worth $9,888,000 after purchasing an additional 25,033 shares during the period. Finally, Needham Investment Management LLC lifted its holdings in Gorman-Rupp by 30.0% in the fourth quarter. Needham Investment Management LLC now owns 260,000 shares of the industrial products company’s stock worth $12,415,000 after purchasing an additional 60,000 shares during the period. Institutional investors and hedge funds own 59.26% of the company’s stock.

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.