Gorman-Rupp (NYSE:GRC) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

Shares of Gorman-Rupp Company (The) (NYSE:GRC) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $74.28 and traded as high as $75.61. Gorman-Rupp shares last traded at $74.88, with a volume of 135,335 shares.

Analyst Ratings Changes

GRC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday, September 9th. Zacks Research lowered Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Gorman-Rupp Trading Up 1.3%

The company’s 50-day moving average price is $74.28 and its 200-day moving average price is $72.55. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.97 and a beta of 1.28. The company has a quick ratio of 1.82, a current ratio of 2.70 and a debt-to-equity ratio of 0.54.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, October 23rd. The industrial products company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.16. Gorman-Rupp had a net margin of 10.20% and a return on equity of 17.13%. The business had revenue of $193.25 million during the quarter, compared to analysts’ expectations of $181.55 million. Equities analysts expect that Gorman-Rupp Company will post 2.88 EPS for the current fiscal year.

Gorman-Rupp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 13th. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s payout ratio is presently 27.14%.

Insider Transactions at Gorman-Rupp

In other Gorman-Rupp news, VP D. Patrick Wischmeier sold 5,153 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $77.62, for a total transaction of $399,975.86. Following the completion of the sale, the vice president directly owned 1,409 shares in the company, valued at approximately $109,366.58. The trade was a 78.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC boosted its stake in shares of Gorman-Rupp by 20.4% in the third quarter. Kestra Advisory Services LLC now owns 3,611 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 611 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Gorman-Rupp during the third quarter worth approximately $685,000. Livelsberger Financial Advisory acquired a new position in Gorman-Rupp in the 3rd quarter valued at $852,000. D.A. Davidson & CO. raised its stake in Gorman-Rupp by 26.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 1,765 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Gorman-Rupp by 849.3% in the 3rd quarter. Sterling Capital Management LLC now owns 712 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 637 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 Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.