Gorman-Rupp (NYSE:GRC) Hits New 12-Month High at $36.93

The Gorman-Rupp Company (NYSE:GRCGet Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.93 and last traded at $36.88, with a volume of 11204 shares changing hands. The stock had previously closed at $36.44.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th.

Get Our Latest Stock Analysis on GRC

Gorman-Rupp Trading Up 2.1 %

The stock’s fifty day moving average price is $34.15 and its 200 day moving average price is $32.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.28 and a quick ratio of 1.27. The stock has a market capitalization of $974.53 million, a P/E ratio of 27.40, a PEG ratio of 1.77 and a beta of 0.89.

Gorman-Rupp (NYSE:GRCGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The industrial products company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. Gorman-Rupp had a net margin of 5.30% and a return on equity of 10.54%. The firm had revenue of $160.57 million for the quarter, compared to analysts’ expectations of $155.88 million. During the same period in the prior year, the business posted $0.11 earnings per share. Research analysts forecast that The Gorman-Rupp Company will post 1.58 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, February 14th. Gorman-Rupp’s payout ratio is 54.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prentiss Smith & Co. Inc. purchased a new position in shares of Gorman-Rupp in the 2nd quarter valued at approximately $4,922,000. Morgan Stanley grew its stake in Gorman-Rupp by 91.8% in the 4th quarter. Morgan Stanley now owns 273,704 shares of the industrial products company’s stock valued at $7,012,000 after acquiring an additional 130,978 shares during the period. Eaton Vance Management acquired a new stake in Gorman-Rupp during the 1st quarter worth $4,252,000. BlackRock Inc. boosted its stake in Gorman-Rupp by 7.8% during the 2nd quarter. BlackRock Inc. now owns 1,604,425 shares of the industrial products company’s stock worth $46,256,000 after purchasing an additional 116,189 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Gorman-Rupp by 290.3% during the 3rd quarter. Citadel Advisors LLC now owns 96,980 shares of the industrial products company’s stock worth $2,307,000 after purchasing an additional 72,135 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

Gorman-Rupp Company Profile

(Get Free Report)

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.

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