Gorman-Rupp (NYSE:GRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Gorman-Rupp (NYSE:GRC) from a buy rating to a strong-buy rating in a research report released on Tuesday.

Gorman-Rupp Stock Down 2.5 %

Shares of Gorman-Rupp stock opened at $37.78 on Tuesday. Gorman-Rupp has a 12-month low of $30.47 and a 12-month high of $43.79. 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 has a 50 day moving average price of $37.98 and a two-hundred day moving average price of $38.87. The stock has a market capitalization of $990.82 million, a P/E ratio of 24.69, a PEG ratio of 1.54 and a beta of 0.97.

Gorman-Rupp (NYSE:GRC) last posted 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 in the prior year, the company earned $0.34 EPS. Equities analysts expect that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.74 annualized dividend and a dividend yield of 1.96%. Gorman-Rupp’s dividend payout ratio is presently 48.37%.

Institutional Trading of Gorman-Rupp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Gorman-Rupp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company’s stock valued at $83,614,000 after acquiring an additional 20,407 shares during the period. Dimensional Fund Advisors LP grew its position in Gorman-Rupp by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,345,454 shares of the industrial products company’s stock worth $51,020,000 after purchasing an additional 3,574 shares during the last quarter. Mechanics Financial Corp increased its holdings in shares of Gorman-Rupp by 105.7% during the 3rd quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock worth $39,450,000 after purchasing an additional 520,361 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Gorman-Rupp by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 703,077 shares of the industrial products company’s stock valued at $26,661,000 after buying an additional 38,191 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Gorman-Rupp by 11.6% in the fourth quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company’s stock valued at $8,463,000 after buying an additional 23,158 shares during the period. Institutional investors and hedge funds own 59.26% of the company’s stock.

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.