Gorman-Rupp (NYSE:GRC) Reaches New 12-Month High – Should You Buy?

The Gorman-Rupp Company (NYSE:GRC) reached 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 traded. The stock had previously closed at $42.58.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

Gorman-Rupp Stock Performance

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 simple moving average of $39.20 and a two-hundred day simple moving average of $37.78. The stock has a market capitalization of $1.14 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.84 and a beta of 0.92.

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 issued a $0.185 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.71%. Gorman-Rupp’s payout ratio is currently 51.03%.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors have recently modified their holdings of GRC. State Board of Administration of Florida Retirement System grew its position in shares of Gorman-Rupp by 147.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,360 shares of the industrial products company’s stock valued at $726,000 after buying an additional 10,946 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Gorman-Rupp by 413.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 7,157 shares of the industrial products company’s stock valued at $283,000 after buying an additional 5,762 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of Gorman-Rupp by 55.3% in the 1st quarter. Quadrature Capital Ltd now owns 9,737 shares of the industrial products company’s stock valued at $385,000 after buying an additional 3,468 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Gorman-Rupp by 63.8% in the 1st quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock valued at $80,000 after buying an additional 797 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Gorman-Rupp by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,645 shares of the industrial products company’s stock valued at $659,000 after buying an additional 980 shares during the last quarter. 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.