Gorman-Rupp (NYSE:GRC) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Gorman-Rupp Company (The) (NYSE:GRC) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $44.98 and traded as high as $54.26. Gorman-Rupp shares last traded at $53.8550, with a volume of 80,319 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GRC shares. Wall Street Zen raised Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a research report on Thursday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Gorman-Rupp currently has a consensus rating of “Buy”.

Gorman-Rupp Stock Performance

The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.84 and a beta of 1.31. The firm has a 50 day moving average price of $48.66 and a 200-day moving average price of $45.08. 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 issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $172.83 million for the quarter, compared to analysts’ expectations of $174.61 million. Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, February 13th. Gorman-Rupp’s dividend payout ratio is presently 39.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRC. SG Americas Securities LLC increased its position in shares of Gorman-Rupp by 8.5% in the 3rd quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 269 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Gorman-Rupp by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 276 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Gorman-Rupp by 0.7% in the second quarter. Fisher Asset Management LLC now owns 45,626 shares of the industrial products company’s stock valued at $1,675,000 after buying an additional 312 shares during the last quarter. Quantbot Technologies LP increased its holdings in Gorman-Rupp by 14.4% in the third quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock valued at $138,000 after buying an additional 376 shares during the last quarter. Finally, Jump Financial LLC raised its stake in Gorman-Rupp by 6.3% in the second quarter. Jump Financial LLC now owns 6,440 shares of the industrial products company’s stock valued at $236,000 after buying an additional 379 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

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.