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 mid-day trading on Tuesday . The stock traded as high as $66.66 and last traded at $65.8240, with a volume of 15140 shares. The stock had previously closed at $65.93.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GRC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Gorman-Rupp Trading Down 0.2%

The company’s fifty day simple moving average is $51.33 and its 200-day simple moving average is $46.72. The firm has a market capitalization of $1.73 billion, a PE ratio of 32.70, a P/E/G ratio of 2.25 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.08 and a quick ratio of 1.25.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.12. Gorman-Rupp had a return on equity of 14.24% and a net margin of 7.77%.The company had revenue of $166.57 million for the quarter, compared to analysts’ expectations of $167.08 million. As a group, sell-side analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. Gorman-Rupp’s payout ratio is presently 37.81%.

Institutional Investors Weigh In On Gorman-Rupp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank acquired a new stake in Gorman-Rupp during the fourth quarter worth about $31,000. Osaic Holdings Inc. lifted its stake in shares of Gorman-Rupp by 125.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 939 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Gorman-Rupp during the 3rd quarter worth $65,000. CWM LLC increased its position in shares of Gorman-Rupp by 47.0% during the 3rd quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 464 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Gorman-Rupp by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,180 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

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.