Gorman-Rupp (NYSE:GRC) Now Covered by StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Gorman-Rupp (NYSE:GRC – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the industrial products company’s stock.

Gorman-Rupp Trading Down 3.1 %

NYSE GRC opened at $23.46 on Thursday. The firm’s 50-day moving average is $27.34 and its two-hundred day moving average is $26.58. Gorman-Rupp has a 12 month low of $22.67 and a 12 month high of $37.79. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.65 and a quick ratio of 1.34. The stock has a market capitalization of $614.18 million, a P/E ratio of 54.56 and a beta of 0.79.

Institutional Trading of Gorman-Rupp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC increased its stake in Gorman-Rupp by 2.7% during the third quarter. Kestra Advisory Services LLC now owns 16,738 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 434 shares during the period. Public Employees Retirement System of Ohio increased its stake in Gorman-Rupp by 61.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,327 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 503 shares during the period. Commonwealth Equity Services LLC increased its stake in Gorman-Rupp by 3.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,625 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 702 shares during the period. Swiss National Bank increased its stake in Gorman-Rupp by 1.8% during the fourth quarter. Swiss National Bank now owns 50,347 shares of the industrial products company’s stock worth $1,290,000 after purchasing an additional 900 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Gorman-Rupp by 6.2% during the fourth quarter. Alliancebernstein L.P. now owns 15,437 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 900 shares during the period. 59.79% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Company Profile

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The Gorman-Rupp Co engages in the design, manufacture, and global marketing of pumps and pump systems. Its pump models include self-priming centrifugal, standard centrifugal, submersible, rotary gear, diaphragm, engine-driven, and priming assist pumps as well as packaged pump stations. The firm offers its products to fire protection, municipal, industrial, agriculture, construction, petroleum, and original equipment manufacturer.