StockNews.com Downgrades Gorman-Rupp (NYSE:GRC) to Buy

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

Gorman-Rupp Stock Performance

Shares of NYSE:GRC traded down $0.54 on Monday, reaching $39.22. 156,550 shares of the company's stock were exchanged, compared to its average volume of 63,893. The company has a fifty day moving average of $38.16 and a 200-day moving average of $38.83. Gorman-Rupp has a twelve month low of $30.47 and a twelve month high of $43.79. The company 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 company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share (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 last year, the business posted $0.34 EPS. On average, research analysts predict that Gorman-Rupp will post 1.98 EPS for the current fiscal year.

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Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, February 14th. Gorman-Rupp's dividend payout ratio (DPR) is presently 48.37%.

Institutional Trading of Gorman-Rupp

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its stake in Gorman-Rupp by 150.4% in the 4th quarter. Mackenzie Financial Corp now owns 15,271 shares of the industrial products company's stock valued at $579,000 after purchasing an additional 9,172 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Gorman-Rupp by 40.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,245 shares of the industrial products company's stock valued at $2,171,000 after purchasing an additional 16,579 shares during the last quarter. Squarepoint Ops LLC bought a new position in Gorman-Rupp in the 4th quarter valued at approximately $384,000. Two Sigma Advisers LP lifted its stake in Gorman-Rupp by 18.5% in the 4th quarter. Two Sigma Advisers LP now owns 57,040 shares of the industrial products company's stock valued at $2,163,000 after purchasing an additional 8,900 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Gorman-Rupp by 362.5% in the 4th quarter. Point72 Asset Management L.P. now owns 7,400 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 5,800 shares during the last quarter. 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.