Gorman-Rupp (NYSE:GRC) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Gorman-Rupp (NYSE:GRC) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

Several other research analysts also recently commented on GRC. Freedom Capital raised Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Zacks Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gorman-Rupp has an average rating of “Buy”.

Gorman-Rupp Price Performance

GRC stock opened at $81.54 on Friday. The company has a fifty day moving average price of $82.71 and a 200-day moving average price of $71.95. The company has a market capitalization of $2.15 billion, a P/E ratio of 34.41, a PEG ratio of 2.41 and a beta of 1.29. Gorman-Rupp has a 52-week low of $40.74 and a 52-week high of $92.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $186.07 million for the quarter, compared to analysts’ expectations of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. As a group, equities analysts expect that Gorman-Rupp will post 2.67 EPS for the current year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, August 14th. This represents a $0.76 annualized dividend and a dividend yield of 0.9%. Gorman-Rupp’s dividend payout ratio is 32.07%.

Hedge Funds Weigh In On Gorman-Rupp

Hedge funds have recently bought and sold shares of the company. Chancellor Financial Group WB LP acquired a new position in Gorman-Rupp in the second quarter valued at $459,000. BlackRock Inc. acquired a new stake in Gorman-Rupp during the 2nd quarter worth about $165,116,000. Deutsche Bank AG acquired a new stake in Gorman-Rupp during the 2nd quarter worth about $2,068,000. Global Retirement Partners LLC bought a new position in shares of Gorman-Rupp in the 2nd quarter worth about $220,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Gorman-Rupp in the 2nd quarter worth about $16,235,000. Institutional investors 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.