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

StockNews.com upgraded shares of Gorman-Rupp (NYSE:GRC) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Gorman-Rupp Stock Up 1.2 %

Shares of NYSE GRC opened at $41.11 on Friday. The business has a 50-day moving average price of $36.81 and a 200 day moving average price of $36.03. The stock has a market cap of $1.08 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.91 and a beta of 0.94. The company has a quick ratio of 1.33, a current ratio of 2.32 and a debt-to-equity ratio of 1.06. Gorman-Rupp has a 52-week low of $27.72 and a 52-week high of $42.24.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.10. The business had revenue of $169.51 million during the quarter, compared to the consensus estimate of $174.44 million. Gorman-Rupp had a return on equity of 10.54% and a net margin of 5.52%. Equities research analysts forecast that Gorman-Rupp will post 1.66 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. Gorman-Rupp’s dividend payout ratio is presently 52.17%.

Institutional Investors Weigh In On Gorman-Rupp

Several hedge funds have recently made changes to their positions in GRC. Bailard Inc. raised its stake in Gorman-Rupp by 1.8% during the 2nd quarter. Bailard Inc. now owns 20,995 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 378 shares during the last quarter. Grace & White Inc. NY increased its holdings in shares of Gorman-Rupp by 1.5% in the second quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock valued at $12,874,000 after purchasing an additional 5,033 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Gorman-Rupp during the second quarter worth approximately $122,000. CWM LLC lifted its holdings in shares of Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 400 shares during the period. Finally, Mather Group LLC. grew its position in Gorman-Rupp by 517.0% in the 2nd quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company’s stock valued at $63,000 after buying an additional 1,339 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

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.