Gorman-Rupp (NYSE:GRC) Cut to “Buy” at StockNews.com

StockNews.com cut shares of Gorman-Rupp (NYSE:GRC) from a strong-buy rating to a buy rating in a report published on Monday.

Gorman-Rupp Stock Up 1.4 %

GRC opened at $39.60 on Monday. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $43.79. The firm has a 50 day moving average price of $38.19 and a 200 day moving average price of $38.82. 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 company has a market cap of $1.04 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business posted $0.34 earnings per share. Sell-side analysts expect that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, February 14th. Gorman-Rupp’s dividend payout ratio is presently 48.37%.

Institutional Investors Weigh In On Gorman-Rupp

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 710 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Gorman-Rupp in the third quarter valued at $29,000. nVerses Capital LLC purchased a new position in shares of Gorman-Rupp in the third quarter valued at $31,000. Centricity Wealth Management LLC purchased a new position in shares of Gorman-Rupp in the fourth quarter valued at $38,000. Finally, Copeland Capital Management LLC purchased a new position in shares of Gorman-Rupp in the third quarter valued at $58,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

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.