Gorman-Rupp (NYSE:GRC) Hits New 1-Year High – Should You Buy?

Gorman-Rupp Company (The) (NYSE:GRC)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $79.08 and last traded at $78.4620, with a volume of 10455 shares changing hands. The stock had previously closed at $77.43.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Gorman-Rupp Price Performance

The firm’s 50-day moving average price is $66.01 and its two-hundred day moving average price is $56.37. The stock has a market cap of $2.05 billion, a PE ratio of 34.73, a PEG ratio of 2.30 and a beta of 1.34. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The firm had revenue of $176.59 million during the quarter, compared to analysts’ expectations of $170.61 million. On average, equities 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 declared 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Gorman-Rupp’s dividend payout ratio is presently 34.08%.

Institutional Investors Weigh In On Gorman-Rupp

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Gorman-Rupp by 43.2% during the third quarter. JPMorgan Chase & Co. now owns 67,990 shares of the industrial products company’s stock valued at $3,155,000 after acquiring an additional 20,522 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Gorman-Rupp during the third quarter valued at approximately $4,007,000. Victory Capital Management Inc. lifted its position in Gorman-Rupp by 2,664,700.0% during the third quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock valued at $12,367,000 after acquiring an additional 266,470 shares during the last quarter. Teton Advisors LLC purchased a new position in shares of Gorman-Rupp in the third quarter worth $2,191,000. Finally, SG Americas Securities LLC raised its holdings in shares of Gorman-Rupp by 222.3% in the fourth quarter. SG Americas Securities LLC now owns 11,096 shares of the industrial products company’s stock worth $530,000 after buying an additional 7,653 shares during the last quarter. Hedge funds and other institutional investors 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.