Gorman-Rupp (NYSE:GRC) Reaches New 1-Year High – Still a Buy?

Gorman-Rupp Company (The) (NYSE:GRC)’s stock price reached a new 52-week high on Thursday . The company 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.

Analyst Ratings Changes

A number of brokerages have weighed in on GRC. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gorman-Rupp currently has an average rating of “Buy”.

Gorman-Rupp Price Performance

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 company’s fifty day moving average price is $49.60 and its 200 day moving average price is $45.62. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.31.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, February 13th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 39.79%.

Institutional Trading of Gorman-Rupp

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings 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 worth $12,367,000 after purchasing an additional 266,470 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Gorman-Rupp during the 3rd quarter valued at $4,007,000. Teton Advisors LLC bought a new stake in shares of Gorman-Rupp in the 3rd quarter worth $2,191,000. Gamco Investors INC. ET AL raised its stake in shares of Gorman-Rupp by 6.9% in the 2nd 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 in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Gorman-Rupp by 203.0% in the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock valued at $1,702,000 after buying an additional 32,494 shares during the period. 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.