Gorman-Rupp (NYSE:GRC) Reaches New 12-Month High at $41.55

The Gorman-Rupp Company (NYSE:GRC) hit a new 52-week high on Thursday . The stock traded as high as $41.55 and last traded at $41.42, with a volume of 27843 shares. The stock had previously closed at $39.96.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a report on Saturday.

Gorman-Rupp Trading Up 1.2 %

The firm has a market cap of $1.08 billion, a PE ratio of 29.79, a P/E/G ratio of 1.88 and a beta of 0.94. The company has a current ratio of 2.32, a quick ratio of 1.33 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average price of $36.64 and a 200 day moving average price of $35.98.

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

Gorman-Rupp Announces Dividend

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

Institutional Trading of Gorman-Rupp

Large investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of Gorman-Rupp by 76.8% in the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 400 shares during the period. Mather Group LLC. boosted its position in shares of 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 purchasing an additional 1,339 shares during the period. Lazard Asset Management LLC boosted its position in shares of Gorman-Rupp by 63.8% in the 1st quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 797 shares during the period. New York State Teachers Retirement System acquired a new stake in Gorman-Rupp during the 1st quarter worth approximately $82,000. Finally, Global Retirement Partners LLC lifted its position in Gorman-Rupp by 92.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 1,298 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

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.