StockNews.com Lowers Gorman-Rupp (NYSE:GRC) to Hold

StockNews.com cut shares of Gorman-Rupp (NYSE:GRC) from a buy rating to a hold rating in a research report report published on Friday morning.

Gorman-Rupp Trading Down 0.9 %

NYSE:GRC opened at $39.58 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.33 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $1.04 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. The firm’s 50 day moving average is $36.03 and its 200 day moving average is $35.82. Gorman-Rupp has a 12 month low of $27.72 and a 12 month high of $41.50.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $159.27 million during the quarter, compared to the consensus estimate of $168.49 million. Gorman-Rupp had a return on equity of 10.54% and a net margin of 5.52%. Sell-side analysts expect that Gorman-Rupp will post 1.66 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 52.17%.

Institutional Investors Weigh In On Gorman-Rupp

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in Gorman-Rupp by 380.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company’s stock valued at $1,558,000 after buying an additional 34,728 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Gorman-Rupp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock valued at $46,960,000 after buying an additional 13,129 shares in the last quarter. Global Retirement Partners LLC grew its stake in Gorman-Rupp by 92.2% in the 4th quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock valued at $88,000 after buying an additional 1,298 shares in the last quarter. Vanguard Group Inc. grew its stake in Gorman-Rupp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock valued at $74,230,000 after buying an additional 19,797 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Gorman-Rupp by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock valued at $11,244,000 after buying an additional 944 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

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.