Gorman-Rupp (NYSE:GRC) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Gorman-Rupp Company (The) (NYSE:GRC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $59.79 and traded as high as $76.23. Gorman-Rupp shares last traded at $75.82, with a volume of 80,558 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on GRC shares. Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Weiss Ratings upgraded shares of Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Gorman-Rupp Stock Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.76. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.18 and a beta of 1.31. The firm’s fifty day moving average is $70.19 and its 200 day moving average is $59.79.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.49 by $0.19. The business had revenue of $176.59 million during the quarter, compared to analysts’ expectations of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. On average, analysts predict that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 34.08%.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRC. Goldman Sachs Group Inc. raised its position in Gorman-Rupp by 9.8% during the first quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after acquiring an additional 25,033 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Gorman-Rupp by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock valued at $2,278,000 after acquiring an additional 7,667 shares in the last quarter. Jane Street Group LLC raised its position in Gorman-Rupp by 203.0% during the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock valued at $1,702,000 after acquiring an additional 32,494 shares in the last quarter. Rhumbline Advisers raised its position in Gorman-Rupp by 17.4% during the second quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock valued at $1,354,000 after acquiring an additional 5,462 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Gorman-Rupp by 8.6% during the second quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after acquiring an additional 4,020 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

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.