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

Shares of Gorman-Rupp Company (The) (NYSE:GRC) hit a new 52-week high on Monday . The company traded as high as $84.99 and last traded at $85.90, with a volume of 198 shares trading hands. The stock had previously closed at $84.59.

Wall Street Analysts Forecast Growth

GRC has been the subject of several research analyst reports. Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. 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, Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Gorman-Rupp currently has an average rating of “Buy”.

Gorman-Rupp Stock Down 0.1%

The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.76. The business has a 50 day simple moving average of $73.32 and a 200 day simple moving average of $61.99. The stock has a market cap of $2.23 billion, a PE ratio of 37.86, a P/E/G ratio of 2.50 and a beta of 1.31.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) 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 business had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. On average, equities research analysts forecast that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $0.19 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.76 dividend on an annualized basis and a yield of 0.9%. Gorman-Rupp’s dividend payout ratio is currently 34.08%.

Hedge Funds Weigh In On Gorman-Rupp

Several institutional investors have recently bought and sold shares of GRC. Victory Capital Management Inc. boosted its stake in shares of Gorman-Rupp by 211.6% during the 4th quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock worth $39,655,000 after acquiring an additional 564,000 shares in the last quarter. First Trust Advisors LP raised its stake in shares of 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 valued at $32,581,000 after acquiring an additional 401,340 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 during the last quarter. Amundi acquired a new stake in Gorman-Rupp in the 4th quarter worth approximately $5,942,000. Finally, Needham Investment Management LLC boosted its position in Gorman-Rupp by 30.0% during 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. 59.26% of the stock is currently owned by 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.