Gorman-Rupp (NYSE:GRC) Hits New 52-Week High – What’s Next?

The Gorman-Rupp Company (NYSE:GRC) hit a new 52-week high during trading on Monday . The company traded as high as $43.26 and last traded at $43.26, with a volume of 4534 shares changing hands. The stock had previously closed at $42.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st.

Gorman-Rupp Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The firm has a market cap of $1.12 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92. The stock has a 50 day simple moving average of $39.31 and a two-hundred day simple moving average of $37.85.

Gorman-Rupp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, November 15th. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s dividend payout ratio is currently 51.03%.

Hedge Funds Weigh In On Gorman-Rupp

Several large investors have recently made changes to their positions in GRC. Farther Finance Advisors LLC grew its position in Gorman-Rupp by 5,461.5% during the third quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after buying an additional 710 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Gorman-Rupp in the 3rd quarter valued at about $29,000. nVerses Capital LLC purchased a new position in shares of Gorman-Rupp in the 3rd quarter valued at about $31,000. CWM LLC raised its holdings in Gorman-Rupp by 76.8% in the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 400 shares during the period. Finally, Copeland Capital Management LLC purchased a new position in Gorman-Rupp during the third quarter worth approximately $58,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Company Profile

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.