Gorman-Rupp (NYSE:GRC) Downgraded to Buy Rating by 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 Thursday morning.

Gorman-Rupp Trading Up 2.5 %

Shares of NYSE GRC opened at $41.99 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The stock’s 50 day moving average price is $39.01 and its two-hundred day moving average price is $37.61. Gorman-Rupp has a 52-week low of $30.47 and a 52-week high of $42.89. The stock has a market capitalization of $1.10 billion, a P/E ratio of 28.96, a PEG ratio of 1.75 and a beta of 0.92.

Gorman-Rupp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.76%. 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. Gorman-Rupp’s payout ratio is currently 51.03%.

Institutional Trading of Gorman-Rupp

A number of institutional investors and hedge funds have recently modified their holdings of GRC. Farther Finance Advisors LLC raised its position in shares of Gorman-Rupp by 5,461.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 710 shares during the period. Financial Management Professionals Inc. acquired a new stake in Gorman-Rupp in the third quarter worth $29,000. nVerses Capital LLC acquired a new stake in Gorman-Rupp in the third quarter worth $31,000. CWM LLC lifted its stake in Gorman-Rupp by 76.8% in the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. Finally, Copeland Capital Management LLC acquired a new position in shares of Gorman-Rupp during the third quarter valued at $58,000. 59.26% of the stock is 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.