Gorman-Rupp (NYSE:GRC) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Gorman-Rupp (NYSE:GRC) from a buy rating to a hold rating in a report issued on Sunday morning.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Gorman-Rupp Price Performance

NYSE GRC opened at $45.01 on Friday. The firm’s fifty day simple moving average is $44.90 and its two-hundred day simple moving average is $40.36. The company has a current ratio of 2.08, a quick ratio of 1.39 and a debt-to-equity ratio of 0.74. Gorman-Rupp has a 12-month low of $30.87 and a 12-month high of $49.24. The firm has a market capitalization of $1.18 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.71 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 net margin of 7.41% and a return on equity of 13.49%. The company had revenue of $172.83 million for the quarter, compared to analyst estimates of $174.61 million. Analysts forecast that Gorman-Rupp will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 14th. Gorman-Rupp’s payout ratio is currently 39.79%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Gorman-Rupp in the third quarter worth about $65,000. CWM LLC raised its position in shares of Gorman-Rupp by 47.0% in the third quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 464 shares during the period. Osaic Holdings Inc. raised 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 worth $62,000 after acquiring an additional 939 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Gorman-Rupp by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 1,180 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Gorman-Rupp in the third quarter worth about $108,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

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.