Gorman-Rupp (NYSE:GRC) Sets New 52-Week High - Still a Buy?

Key Points

• Gorman-Rupp Company (NYSE:GRC) reached a new 52-week high of $48.32 during trading, closing slightly lower at $48.22, indicating strong stock performance.
• Analysts maintain a consensus "Buy" rating for Gorman-Rupp, with Weiss Ratings reaffirming their positive outlook as the company shows strong earnings and revenue growth.
• The company recently declared a quarterly dividend of $0.185 per share, reflecting a 1.5% dividend yield and a payout ratio of 37.56%.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $48.32 and last traded at $48.22, with a volume of 20153 shares changing hands. The stock had previously closed at $47.44.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy".

Gorman-Rupp Stock Performance

The firm's fifty day simple moving average is $44.11 and its 200 day simple moving average is $39.46. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.39.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. The business had revenue of $179.05 million during the quarter, compared to the consensus estimate of $174.60 million. On average, sell-side analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a dividend of $0.185 per share. The ex-dividend date was Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.5%. Gorman-Rupp's dividend payout ratio (DPR) is currently 37.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its position in Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company's stock worth $62,000 after purchasing an additional 939 shares during the period. CWM LLC grew its stake in Gorman-Rupp by 47.0% in the 3rd quarter. CWM LLC now owns 1,452 shares of the industrial products company's stock valued at $67,000 after buying an additional 464 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company's stock worth $75,000 after acquiring an additional 1,180 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Gorman-Rupp by 42.3% in 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 during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Gorman-Rupp in the third quarter worth about $108,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.