StockNews.com upgraded shares of Gorman-Rupp (NYSE:GRC – Free Report) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.
Gorman-Rupp Price Performance
Shares of NYSE GRC opened at $40.71 on Wednesday. The firm’s 50-day moving average price is $38.73 and its 200-day moving average price is $37.42. The firm has a market capitalization of $1.07 billion, a P/E ratio of 28.10, a P/E/G ratio of 1.79 and a beta of 0.92. Gorman-Rupp has a 1-year low of $30.47 and a 1-year high of $42.89. 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 Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.82%. Gorman-Rupp’s payout ratio is currently 51.03%.
Hedge Funds Weigh In On Gorman-Rupp
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.
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