Gorman-Rupp (NYSE:GRC) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Gorman-Rupp (NYSE:GRC) from a strong-buy rating to a buy rating in a research note published on Saturday.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Gorman-Rupp Trading Down 0.5%

Shares of Gorman-Rupp stock opened at $46.32 on Friday. Gorman-Rupp has a 52-week low of $30.87 and a 52-week high of $49.24. The company has a quick ratio of 1.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.80. The company’s 50-day simple moving average is $44.66 and its 200-day simple moving average is $39.99. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.67% and a net margin of 7.41%.The firm had revenue of $172.83 million for the quarter, compared to analyst estimates of $174.61 million. As a group, equities research analysts anticipate that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, November 14th. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s payout ratio is 38.74%.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Gorman-Rupp during the third quarter worth $65,000. CWM LLC grew its holdings in Gorman-Rupp by 47.0% in the third quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 464 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Gorman-Rupp by 125.0% in the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after buying an additional 939 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock worth $75,000 after buying an additional 1,180 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Gorman-Rupp during the 3rd quarter worth $108,000. 59.26% of the stock is owned by hedge funds and other institutional investors.

About Gorman-Rupp

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.