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

Gorman-Rupp Company (The) (NYSE:GRC) reached a new 52-week high during trading on Thursday . The company traded as high as $52.15 and last traded at $52.6050, with a volume of 2379 shares trading hands. The stock had previously closed at $50.98.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, October 8th. Wall Street Zen raised 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.com, the stock currently has an average rating of “Buy”.

Gorman-Rupp Price Performance

The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average price is $47.87 and its 200 day moving average price is $44.58. The firm has a market capitalization of $1.39 billion, a PE ratio of 27.69, a P/E/G ratio of 1.81 and a beta of 1.31.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.49%. The business had revenue of $172.83 million during the quarter, compared to analyst estimates of $174.61 million. As a group, equities analysts forecast that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, November 14th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s dividend payout ratio (DPR) is 39.79%.

Institutional Investors Weigh In On Gorman-Rupp

A number of large investors have recently added to or reduced their stakes in GRC. Gabelli Funds LLC lifted its stake in Gorman-Rupp by 0.9% in the second quarter. Gabelli Funds LLC now owns 773,664 shares of the industrial products company’s stock valued at $28,409,000 after buying an additional 7,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gorman-Rupp by 2.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock valued at $34,985,000 after buying an additional 15,178 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Gorman-Rupp by 0.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 596,550 shares of the industrial products company’s stock worth $27,686,000 after buying an additional 3,562 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Gorman-Rupp by 3.0% in the second quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock valued at $19,117,000 after acquiring an additional 14,997 shares in the last quarter. Finally, Grace & White Inc. NY increased its stake in shares of Gorman-Rupp by 0.5% during the second quarter. Grace & White Inc. NY now owns 349,291 shares of the industrial products company’s stock valued at $12,826,000 after acquiring an additional 1,632 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Company Profile

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.