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

Key Points

• Gorman-Rupp's stock price reached a new 52-week high of $46.93 during mid-day trading, closing at $45.79 with a trading volume of 212,679 shares.
• The company reported $0.60 earnings per share for the last quarter, exceeding analysts' expectations of $0.55, along with a revenue of $179.05 million.
• An annualized dividend of $0.74 was declared, giving a dividend yield of 1.6%, with a payout ratio of 37.56% as of the latest announcement.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $46.93 and last traded at $45.79, with a volume of 212679 shares trading hands. The stock had previously closed at $45.18.

Gorman-Rupp Price Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.39. The business has a 50 day moving average price of $41.81 and a 200-day moving average price of $38.14.

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

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Gorman-Rupp's payout ratio is currently 37.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GRC. Nuveen LLC acquired a new position in Gorman-Rupp during the 1st quarter worth approximately $3,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Gorman-Rupp by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company's stock worth $26,540,000 after buying an additional 53,006 shares during the period. Gamco Investors INC. ET AL raised its stake in Gorman-Rupp by 6.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company's stock worth $21,775,000 after buying an additional 38,260 shares during the period. Cooke & Bieler LP raised its stake in Gorman-Rupp by 8.5% during the 1st quarter. Cooke & Bieler LP now owns 481,965 shares of the industrial products company's stock worth $16,917,000 after buying an additional 37,738 shares during the period. Finally, Aurora Private Wealth Inc. acquired a new position in Gorman-Rupp during the 1st quarter worth approximately $1,262,000. 59.26% of the stock is owned by institutional investors and hedge funds.

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.

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