Gorman-Rupp (NYSE:GRC) Shares Gap Up – Time to Buy?

Gorman-Rupp Company (The) (NYSE:GRC) gapped up prior to trading on Wednesday . The stock had previously closed at $77.91, but opened at $81.00. Gorman-Rupp shares last traded at $81.4150, with a volume of 7,782 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Finally, Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Gorman-Rupp Stock Up 4.6%

The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $72.91 and its 200 day moving average price is $61.72. The company has a market capitalization of $2.20 billion, a P/E ratio of 37.28, a P/E/G ratio of 2.35 and a beta of 1.31.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.19. The firm had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. As a group, equities research analysts predict that Gorman-Rupp Company will post 2.6 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is 34.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC grew its holdings in shares of Gorman-Rupp by 3.2% in the 4th quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 150 shares during the last quarter. Captrust Financial Advisors boosted its position in Gorman-Rupp by 3.5% in the fourth quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock valued at $233,000 after buying an additional 163 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Gorman-Rupp by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 9,892 shares of the industrial products company’s stock worth $615,000 after buying an additional 176 shares during the last quarter. Fifth Third Bancorp grew its stake in Gorman-Rupp by 14.1% during the first quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock worth $91,000 after buying an additional 180 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Gorman-Rupp by 0.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company’s stock worth $2,166,000 after buying an additional 203 shares in the last quarter. 59.26% of the stock is owned by 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.