Gorman-Rupp (NYSE:GRC) Reaches New 12-Month High – Should You Buy?

The Gorman-Rupp Company (NYSE:GRC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $42.41 and last traded at $41.72, with a volume of 6295 shares changing hands. The stock had previously closed at $38.73.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Gorman-Rupp Stock Performance

The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.64 and a beta of 0.92. The stock’s fifty day moving average is $38.21 and its 200-day moving average is $37.12. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s payout ratio is presently 51.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GRC. Farther Finance Advisors LLC lifted its position in shares of Gorman-Rupp by 5,461.5% in the third quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 710 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Gorman-Rupp in the third quarter worth $29,000. nVerses Capital LLC bought a new stake in shares of Gorman-Rupp in the third quarter worth $31,000. CWM LLC lifted its position in shares of Gorman-Rupp by 76.8% in 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 in the last quarter. Finally, Copeland Capital Management LLC bought a new stake in shares of Gorman-Rupp in the third quarter worth $58,000. Institutional investors 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.