Gorman-Rupp (NYSE:GRC) Hits New 52-Week High – Time to Buy?

Gorman-Rupp Company (The) (NYSE:GRC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $92.27 and last traded at $91.7290, with a volume of 6129 shares. The stock had previously closed at $90.20.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GRC shares. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Zacks Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Gorman-Rupp Price Performance

The company has a market capitalization of $2.35 billion, a P/E ratio of 39.89, a PEG ratio of 2.71 and a beta of 1.28. The company has a quick ratio of 1.76, a current ratio of 2.93 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $78.80 and a 200-day simple moving average of $65.78.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. The business had revenue of $176.59 million for the quarter, compared to analysts’ expectations of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. Analysts predict that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. Gorman-Rupp’s payout ratio is 34.08%.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Gorman-Rupp by 9.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after acquiring an additional 25,033 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Gorman-Rupp by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock worth $2,278,000 after purchasing an additional 7,667 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Gorman-Rupp by 203.0% in the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after purchasing an additional 32,494 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Gorman-Rupp by 17.4% during the second quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock valued at $1,354,000 after purchasing an additional 5,462 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Gorman-Rupp by 8.6% during the second quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after purchasing an additional 4,020 shares in the last quarter. 59.26% of the stock is owned by institutional investors.

About Gorman-Rupp

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.