Gorman-Rupp (NYSE:GRC) Reaches New 12-Month High at $39.59

Shares of The Gorman-Rupp Company (NYSE:GRC) hit a new 52-week high on Thursday . The stock traded as high as $39.59 and last traded at $39.57, with a volume of 6426 shares. The stock had previously closed at $39.31.

Gorman-Rupp Trading Up 0.7 %

The stock’s fifty day moving average price is $36.17 and its 200 day moving average price is $33.72. The stock has a market cap of $1.04 billion, a P/E ratio of 29.80, a PEG ratio of 1.88 and a beta of 0.92. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, February 2nd. The industrial products company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $160.57 million during the quarter, compared to the consensus estimate of $155.88 million. Gorman-Rupp had a net margin of 5.30% and a return on equity of 10.47%. During the same quarter last year, the firm earned $0.11 earnings per share. Equities research analysts expect that The Gorman-Rupp Company will post 1.58 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 15th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Wednesday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 54.14%.

Institutional Investors Weigh In On Gorman-Rupp

Several large investors have recently bought and sold shares of GRC. Bank of New York Mellon Corp boosted its holdings in shares of Gorman-Rupp by 16.5% in the first quarter. Bank of New York Mellon Corp now owns 411,328 shares of the industrial products company’s stock worth $14,759,000 after buying an additional 58,348 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Gorman-Rupp in the 1st quarter worth approximately $77,000. MetLife Investment Management LLC grew its stake in Gorman-Rupp by 63.2% during the first quarter. MetLife Investment Management LLC now owns 11,912 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 4,612 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Gorman-Rupp by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,083,871 shares of the industrial products company’s stock worth $74,769,000 after buying an additional 8,477 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Gorman-Rupp by 15.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 185,924 shares of the industrial products company’s stock valued at $6,671,000 after acquiring an additional 25,075 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors.

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.