Gorman-Rupp (NYSE:GRC) Hits New 12-Month High – Time to Buy?

Gorman-Rupp Company (The) (NYSE:GRC) reached a new 52-week high during trading on Tuesday . The company traded as high as $81.68 and last traded at $81.32, with a volume of 7757 shares changing hands. The stock had previously closed at $77.91.

Analysts Set New Price Targets

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

Gorman-Rupp Stock Down 1.7%

The firm has a market capitalization of $2.11 billion, a P/E ratio of 35.75, a PEG ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93. The business’s fifty day moving average price is $72.49 and its two-hundred day moving average price is $61.45.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The business had revenue of $176.59 million for the quarter, compared to analysts’ expectations of $170.61 million. Equities 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 declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued 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 was Friday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 34.08%.

Institutional Trading of Gorman-Rupp

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in Gorman-Rupp by 1,056.7% in the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock worth $18,778,000 after purchasing an additional 276,101 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Gorman-Rupp by 46.5% in the 1st quarter. Quantinno Capital Management LP now owns 12,285 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 3,900 shares in the last quarter. Sei Investments Co. boosted its stake in Gorman-Rupp by 109.7% in the 1st quarter. Sei Investments Co. now owns 11,916 shares of the industrial products company’s stock worth $740,000 after purchasing an additional 6,234 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Gorman-Rupp in the 1st quarter worth approximately $983,000. Finally, First Trust Advisors LP boosted its stake in Gorman-Rupp by 326.1% in the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock worth $32,581,000 after purchasing an additional 401,340 shares in the last quarter. 59.26% of the stock is currently owned by institutional investors.

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.