Gorman-Rupp (NYSE:GRC) Sets New 52-Week High – Here’s What Happened

Gorman-Rupp Company (The) (NYSE:GRC) reached a new 52-week high on Wednesday . The stock traded as high as $57.76 and last traded at $57.0250, with a volume of 139705 shares changing hands. The stock had previously closed at $56.38.

Analysts Set New Price Targets

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

Gorman-Rupp Stock Up 10.6%

The company has a market cap of $1.73 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a 50-day simple moving average of $50.54 and a 200 day simple moving average of $46.20. 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 issued its earnings results on Friday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $166.57 million during the quarter, compared to analyst estimates of $167.08 million. Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.49%. On average, equities analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

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 1.2%. The ex-dividend date is Friday, February 13th. Gorman-Rupp’s dividend payout ratio is currently 39.79%.

Institutional Trading of Gorman-Rupp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Intrust Bank NA grew its stake in Gorman-Rupp by 6.0% in the fourth quarter. Intrust Bank NA now owns 15,185 shares of the industrial products company’s stock worth $725,000 after purchasing an additional 861 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Gorman-Rupp by 3.7% in the 4th quarter. HighTower Advisors LLC now owns 21,668 shares of the industrial products company’s stock worth $1,035,000 after buying an additional 771 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Gorman-Rupp by 0.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company’s stock worth $28,627,000 after buying an additional 2,970 shares during the period. Seizert Capital Partners LLC bought a new position in shares of Gorman-Rupp during the 4th quarter worth $260,000. Finally, Keybank National Association OH increased its stake in shares of Gorman-Rupp by 2.7% during the fourth quarter. Keybank National Association OH now owns 143,663 shares of the industrial products company’s stock valued at $6,860,000 after buying an additional 3,760 shares during the period. Institutional investors own 59.26% of the company’s stock.

About Gorman-Rupp

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.