Gorman-Rupp (NYSE:GRC) Rating Lowered to "Buy" at StockNews.com

StockNews.com downgraded shares of Gorman-Rupp (NYSE:GRC - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

Gorman-Rupp Trading Down 1.4 %

NYSE:GRC traded down $0.54 during trading hours on Monday, reaching $39.22. The company's stock had a trading volume of 156,550 shares, compared to its average volume of 63,893. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.54 and a beta of 0.97. The firm has a 50-day simple moving average of $38.16 and a 200-day simple moving average of $38.83. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $43.79. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Research analysts expect that Gorman-Rupp will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, February 14th. Gorman-Rupp's payout ratio is presently 48.37%.

Hedge Funds Weigh In On Gorman-Rupp

A number of hedge funds have recently modified their holdings of GRC. nVerses Capital LLC purchased a new position in shares of Gorman-Rupp in the third quarter valued at about $31,000. Copeland Capital Management LLC purchased a new position in shares of Gorman-Rupp in the third quarter valued at about $58,000. Assenagon Asset Management S.A. increased its position in shares of Gorman-Rupp by 44.8% in the third quarter. Assenagon Asset Management S.A. now owns 79,770 shares of the industrial products company's stock valued at $3,107,000 after acquiring an additional 24,683 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Gorman-Rupp in the third quarter valued at about $29,000. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Gorman-Rupp by 3.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 20,012 shares of the industrial products company's stock valued at $779,000 after acquiring an additional 710 shares during the period. Hedge funds and other institutional investors 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.