Gorman-Rupp (NYSE:GRC) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Gorman-Rupp Company (The) (NYSE:GRC) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $50.87 and traded as high as $61.26. Gorman-Rupp shares last traded at $60.5560, with a volume of 148,859 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GRC. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. Wall Street Zen raised Gorman-Rupp from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gorman-Rupp presently has a consensus rating of “Buy”.

Gorman-Rupp Stock Up 0.0%

The company’s 50 day moving average price is $59.73 and its 200 day moving average price is $50.87. The company has a quick ratio of 1.39, a current ratio of 2.37 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 2.01 and a beta of 1.27.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $166.57 million for the quarter, compared to the consensus estimate of $167.08 million. Gorman-Rupp had a return on equity of 14.06% and a net margin of 7.77%. As a group, research analysts forecast that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, February 13th. Gorman-Rupp’s payout ratio is presently 37.81%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Gorman-Rupp by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock worth $39,655,000 after purchasing an additional 564,000 shares during the period. Amundi acquired a new stake in Gorman-Rupp during the 4th quarter valued at approximately $5,942,000. First Trust Advisors LP purchased a new stake in shares of Gorman-Rupp in the 4th quarter valued at $5,876,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Gorman-Rupp in the third quarter worth $4,007,000. Finally, Needham Investment Management LLC increased its stake in shares of Gorman-Rupp by 30.0% in the fourth quarter. Needham Investment Management LLC now owns 260,000 shares of the industrial products company’s stock worth $12,415,000 after acquiring an additional 60,000 shares during the period. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.