Gorman-Rupp (NYSE:GRC) Hits New 52-Week High – Should You Buy?

Shares of Gorman-Rupp Company (The) (NYSE:GRC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $54.32 and last traded at $54.0210, with a volume of 50977 shares changing hands. The stock had previously closed at $52.74.

Analysts Set New Price Targets

Several research firms have recently commented on GRC. Wall Street Zen upgraded shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Gorman-Rupp Stock Performance

The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average price is $49.19 and its 200 day moving average price is $45.44. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 1.81 and a beta of 1.31.

Gorman-Rupp Dividend Announcement

The business 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 of this dividend is Friday, February 13th. This represents a $0.76 annualized dividend and a yield of 1.4%. Gorman-Rupp’s payout ratio is 39.79%.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRC. State of Alaska Department of Revenue bought a new position in shares of Gorman-Rupp during the third quarter worth about $65,000. CWM LLC raised its holdings in shares of Gorman-Rupp by 47.0% during the third 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 period. Osaic Holdings Inc. lifted its position 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 worth $62,000 after buying an additional 939 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Gorman-Rupp by 135.2% during the 2nd 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. Finally, 1620 Investment Advisors Inc. bought a new position in Gorman-Rupp in the third quarter worth about $108,000. 59.26% of the stock is owned by hedge funds and other 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.