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

Key Points

• New 52-week high: Shares reached $73.24 (last $71.50) with about 237,626 shares traded, and the stock sits well above its 50‑day ($63.80) and 200‑day ($53.59) moving averages.
• Earnings beat and analyst sentiment: Gorman‑Rupp reported $0.55 EPS vs. $0.43 expected and carries a consensus Buy rating (Weiss Ratings restated a "Buy (b)"); analysts project ~1.98 EPS for the year.
• Valuation, dividend and ownership: Market cap is $1.88B with a P/E of 35.57 and PEG 2.39; the company pays a $0.19 quarterly dividend (annualized $0.76, 1.1% yield, 37.8% payout ratio) and ~59.3% of shares are institutionally owned.

Shares of Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $73.24 and last traded at $71.50, with a volume of 237626 shares trading hands. The stock had previously closed at $72.16.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

Gorman-Rupp Trading Down 0.9%

The business's 50 day moving average is $63.80 and its two-hundred day moving average is $53.59. The company has a quick ratio of 1.39, a current ratio of 2.37 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $1.88 billion, a P/E ratio of 35.57, a PEG ratio of 2.39 and a beta of 1.26.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. The business had revenue of $166.57 million for the quarter, compared to analysts' expectations of $167.08 million. Analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 13th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, February 13th. Gorman-Rupp's payout ratio is presently 37.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new position in Gorman-Rupp during the fourth quarter worth about $205,000. Invesco Ltd. grew its holdings in Gorman-Rupp by 23.1% during the fourth quarter. Invesco Ltd. now owns 95,126 shares of the industrial products company's stock worth $4,542,000 after acquiring an additional 17,867 shares during the period. Summit Global Investments acquired a new position in Gorman-Rupp during the fourth quarter worth about $202,000. EP Wealth Advisors LLC acquired a new position in Gorman-Rupp during the fourth quarter worth about $268,000. Finally, NewEdge Advisors LLC grew its holdings in Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company's stock worth $32,000 after acquiring an additional 379 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Company Profile

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.

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