Gorman-Rupp (NYSE:GRC) Sets New 52-Week High - Should You Buy?

Key Points

• Gorman-Rupp (NYSE:GRC) reached a new 52-week high of $47.20, closing at $46.86 with a trading volume of 76,761 shares.
• The company reported a quarterly EPS of $0.60, exceeding analyst estimates, with a revenue of $179.05 million, also above the forecasted amount.
• Gorman-Rupp announced a quarterly dividend of $0.185, yielding 1.6%, with a modest payout ratio of 37.56%.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $47.20 and last traded at $46.86, with a volume of 76761 shares. The stock had previously closed at $46.41.

Gorman-Rupp Price Performance

The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $42.64 and a 200 day moving average of $38.43.

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

Gorman-Rupp Announces Dividend

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

Institutional Investors Weigh In On Gorman-Rupp

Several institutional investors have recently bought and sold shares of GRC. Osaic Holdings Inc. raised its holdings in Gorman-Rupp by 125.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company's stock worth $62,000 after buying an additional 939 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Gorman-Rupp by 8.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 15,753 shares of the industrial products company's stock worth $580,000 after buying an additional 1,190 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Gorman-Rupp by 135.2% during 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 purchasing an additional 1,180 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Gorman-Rupp in the second quarter worth about $180,000. Finally, Man Group plc grew its position in Gorman-Rupp by 51.6% in the 2nd quarter. Man Group plc now owns 81,212 shares of the industrial products company's stock worth $2,982,000 after purchasing an additional 27,630 shares during the last quarter. Institutional investors and hedge funds 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.

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