Gorman-Rupp (NYSE:GRC) Reaches New 52-Week High - Here's What Happened

Key Points

• Gorman-Rupp's share price reached a new 52-week high of $43.90, showing a 3.2% increase from the previous close of $42.59.
• The company reported $0.60 EPS for the last quarter, exceeding analyst expectations of $0.55, with a revenue of $179.05 million.
• Gorman-Rupp announced a quarterly dividend of $0.185 per share, reflecting a 1.7% dividend yield and a payout ratio of 37.56%.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $43.79 and last traded at $43.90, with a volume of 28570 shares changing hands. The stock had previously closed at $42.59.

Gorman-Rupp Stock Up 0.1%

The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.14 billion, a P/E ratio of 21.97, a PEG ratio of 1.63 and a beta of 1.22. The firm has a 50-day simple moving average of $41.09 and a two-hundred day simple moving average of $37.91.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%.The firm had revenue of $179.05 million for the quarter, compared to analysts' expectations of $174.60 million. Equities research analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, August 15th. Gorman-Rupp's payout ratio is currently 37.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GRC. Fifth Third Bancorp bought a new position in Gorman-Rupp in the first quarter valued at about $45,000. Central Pacific Bank Trust Division bought a new position in Gorman-Rupp in the first quarter valued at about $53,000. Osaic Holdings Inc. grew its position in 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 acquiring an additional 939 shares during the last quarter. Tower Research Capital LLC TRC grew its position in 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 valued at $75,000 after acquiring an additional 1,180 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Gorman-Rupp by 42.3% during the first quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 896 shares in the last quarter. Institutional investors 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.