Gorman-Rupp (NYSE:GRC) Reaches New 52-Week High – What’s Next?

Gorman-Rupp Company (The) (NYSE:GRC)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $57.76 and last traded at $57.0250, with a volume of 139705 shares changing hands. The stock had previously closed at $56.38.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GRC. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research report 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Gorman-Rupp Stock Up 1.1%

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.25 and a current ratio of 2.08. The firm has a market capitalization of $1.50 billion, a PE ratio of 29.86, a PEG ratio of 1.93 and a beta of 1.30. The company has a fifty day moving average price of $50.04 and a 200-day moving average price of $46.02.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, February 13th. Gorman-Rupp’s dividend payout ratio is currently 39.79%.

Institutional Investors Weigh In On Gorman-Rupp

Several large investors have recently added to or reduced their stakes in GRC. Victory Capital Management Inc. raised its position in Gorman-Rupp by 2,664,700.0% during the third quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock valued at $12,367,000 after purchasing an additional 266,470 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Gorman-Rupp during the 3rd quarter valued at approximately $4,007,000. Teton Advisors LLC purchased a new stake in Gorman-Rupp during the 3rd quarter valued at $2,191,000. Gamco Investors INC. ET AL boosted its stake in Gorman-Rupp by 6.9% during the second quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock worth $21,775,000 after buying an additional 38,260 shares during the period. Finally, Jane Street Group LLC boosted its stake in Gorman-Rupp by 203.0% during the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after buying an additional 32,494 shares during the period. 59.26% of the stock is 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.