Gorman-Rupp (NYSE:GRC) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Gorman-Rupp's stock price surpassed its 200-day moving average of $38.78, reaching a high of $46.97 during trading, with shares last trading at $46.12.
• The company recently announced a $0.185 quarterly dividend with a yield of 1.6%, complemented by a payout ratio of 37.56%.
• Analysts consistently rate Gorman-Rupp as a "Buy" stock, with expectations for earnings per share to reach 1.98 for the current year.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.78 and traded as high as $46.97. Gorman-Rupp shares last traded at $46.12, with a volume of 235,541 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Gorman-Rupp in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy".

Gorman-Rupp Price Performance

The company has a fifty day simple moving average of $43.33 and a two-hundred day simple moving average of $38.78. 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 company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.76 and a beta of 1.22.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. The company had revenue of $179.05 million during 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%. As a group, research analysts anticipate that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of Gorman-Rupp by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company's stock valued at $292,000 after buying an additional 276 shares during the period. Fisher Asset Management LLC grew its stake in shares of Gorman-Rupp by 0.7% during the 2nd quarter. Fisher Asset Management LLC now owns 45,626 shares of the industrial products company's stock valued at $1,675,000 after buying an additional 312 shares during the period. Jump Financial LLC grew its stake in shares of Gorman-Rupp by 6.3% during the 2nd quarter. Jump Financial LLC now owns 6,440 shares of the industrial products company's stock valued at $236,000 after buying an additional 379 shares during the period. Martingale Asset Management L P grew its stake in shares of Gorman-Rupp by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 30,120 shares of the industrial products company's stock valued at $1,057,000 after buying an additional 400 shares during the period. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Gorman-Rupp by 1.0% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 48,878 shares of the industrial products company's stock valued at $1,795,000 after buying an additional 463 shares during the period. 59.26% of the stock is currently 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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