StockNews.com upgraded shares of Gorman-Rupp (NYSE:GRC - Free Report) from a buy rating to a strong-buy rating in a report released on Tuesday morning.
Gorman-Rupp Stock Performance
Shares of NYSE:GRC traded up $0.31 during mid-day trading on Tuesday, reaching $38.12. 61,086 shares of the company traded hands, compared to its average volume of 63,004. The company's 50 day moving average price is $37.98 and its 200-day moving average price is $38.87. The firm has a market cap of $999.81 million, a PE ratio of 24.92, a PEG ratio of 1.54 and a beta of 0.97. Gorman-Rupp has a 52 week low of $30.47 and a 52 week high of $43.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38.
Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share 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 prior year, the business earned $0.34 earnings per share. On average, equities analysts expect that Gorman-Rupp will post 1.98 EPS for the current fiscal year.
Gorman-Rupp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $0.185 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.74 annualized dividend and a dividend yield of 1.94%. Gorman-Rupp's payout ratio is 48.37%.
Institutional Trading of Gorman-Rupp
Several institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Gorman-Rupp by 5,461.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company's stock worth $28,000 after purchasing an additional 710 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Gorman-Rupp in the fourth quarter worth $38,000. Point72 Asset Management L.P. bought a new position in shares of Gorman-Rupp during the third quarter worth $62,000. Quantbot Technologies LP purchased a new position in Gorman-Rupp during the third quarter valued at $154,000. Finally, Aquatic Capital Management LLC increased its holdings in Gorman-Rupp by 46.2% in the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock valued at $161,000 after acquiring an additional 1,339 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.
Gorman-Rupp Company Profile
(
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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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