Gorman-Rupp (NYSE:GRC) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Gorman-Rupp (NYSE:GRC) from a buy rating to a strong-buy rating in a report released on Friday.

Gorman-Rupp Price Performance

NYSE:GRC opened at $35.36 on Friday. The company has a market capitalization of $927.34 million, a P/E ratio of 23.11, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. Gorman-Rupp has a 52 week low of $30.87 and a 52 week high of $43.79. The stock’s fifty day moving average is $35.82 and its two-hundred day moving average is $38.05.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. The business had revenue of $163.95 million for the quarter, compared to the consensus estimate of $164.84 million. Equities analysts expect that Gorman-Rupp will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $0.185 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.74 annualized dividend and a dividend yield of 2.09%. Gorman-Rupp’s dividend payout ratio is presently 43.79%.

Hedge Funds Weigh In On Gorman-Rupp

Institutional investors have recently bought and sold shares of the company. Bailard Inc. boosted its stake in shares of Gorman-Rupp by 2.5% in the fourth quarter. Bailard Inc. now owns 16,395 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 400 shares during the period. Rhumbline Advisers boosted its position in Gorman-Rupp by 1.8% in the 4th quarter. Rhumbline Advisers now owns 31,320 shares of the industrial products company’s stock valued at $1,188,000 after buying an additional 548 shares during the period. Inceptionr LLC grew its stake in shares of Gorman-Rupp by 9.5% in the fourth quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 609 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Gorman-Rupp by 8.6% during the fourth quarter. Principal Financial Group Inc. now owns 11,117 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 884 shares during the period. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Gorman-Rupp in the fourth quarter valued at $38,000. 59.26% of the stock is owned by institutional investors and hedge funds.

About Gorman-Rupp

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.