Gorman-Rupp (NYSE:GRC) Reaches New 1-Year High - Still a Buy?

Key Points

• Gorman-Rupp (NYSE: GRC) reached a new 52-week high, trading as high as $79.08 and last at $78.4620 on Wednesday with about 10,455 shares changing hands.
• Several analysts upgraded the stock recently — including Zacks, Wall Street Zen and Weiss — leaving the MarketBeat consensus rating at Strong Buy.
• The company beat expectations for the quarter with $0.68 EPS versus $0.49 expected and $176.59M in revenue versus $170.61M, and declared a $0.19 quarterly dividend (1.0% yield) with an ex-dividend date of May 15.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $79.08 and last traded at $78.4620, with a volume of 10455 shares trading hands. The stock had previously closed at $77.43.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GRC shares. Zacks Research upgraded shares of Gorman-Rupp from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Weiss Ratings upgraded shares of Gorman-Rupp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

Gorman-Rupp Trading Up 1.3%

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 firm's 50 day simple moving average is $65.51 and its two-hundred day simple moving average is $55.94. The stock has a market cap of $2.07 billion, a P/E ratio of 35.18, a price-to-earnings-growth ratio of 2.24 and a beta of 1.34.

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

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, May 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. Gorman-Rupp's dividend payout ratio is currently 34.08%.

Hedge Funds Weigh In On Gorman-Rupp

Institutional investors have recently modified their holdings of the company. Huntington National Bank bought a new position in shares of Gorman-Rupp during the fourth quarter worth about $31,000. NewEdge Advisors LLC grew its position in shares of 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 last quarter. State of Alaska Department of Revenue bought a new position in shares of Gorman-Rupp during the third quarter worth about $65,000. Geneos Wealth Management Inc. bought a new position in shares of Gorman-Rupp during the first quarter worth about $89,000. Finally, CWM LLC grew its position in shares of Gorman-Rupp by 47.0% during 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 last quarter. Institutional investors own 59.26% of the company's stock.

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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