Gorman-Rupp (NYSE:GRC) Hits New 12-Month High – Still a Buy?

Gorman-Rupp Company (The) (NYSE:GRC)’s share price hit a new 52-week high on Thursday . The company traded as high as $52.15 and last traded at $52.6050, with a volume of 2379 shares traded. The stock had previously closed at $50.98.

Wall Street Analysts Forecast Growth

GRC has been the topic of a number of analyst reports. Wall Street Zen upgraded 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 report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Gorman-Rupp Stock Performance

The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 1.74 and a beta of 1.31. The firm’s 50-day moving average is $47.54 and its two-hundred day moving average is $44.41. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.74.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%.The firm had revenue of $172.83 million during the quarter, compared to analyst estimates of $174.61 million. As a group, sell-side analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were given a dividend of $0.19 per share. The ex-dividend date was Friday, November 14th. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 39.79%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Gorman-Rupp during the third quarter worth $65,000. CWM LLC boosted its position in Gorman-Rupp by 47.0% during the third quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 464 shares during the last quarter. Osaic Holdings Inc. boosted its position in Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 939 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 1,180 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Gorman-Rupp in the 3rd quarter valued at about $108,000. Hedge funds and other 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.