Gorman-Rupp (NYSE:GRC) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Gorman-Rupp Company (The) (NYSE:GRC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $50.87 and traded as high as $61.26. Gorman-Rupp shares last traded at $60.5560, with a volume of 148,859 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on GRC shares. Wall Street Zen raised Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Gorman-Rupp presently has a consensus rating of “Buy”.

Gorman-Rupp Stock Performance

The firm’s fifty day moving average price is $59.73 and its 200 day moving average price is $50.87. The firm has a market cap of $1.59 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 2.01 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.39 and a current ratio of 2.37.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The company had revenue of $166.57 million for the quarter, compared to analyst estimates of $167.08 million. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. Sell-side analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, February 13th. Gorman-Rupp’s payout ratio is 37.81%.

Institutional Trading of Gorman-Rupp

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Gorman-Rupp by 211.6% in the 4th quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock worth $39,655,000 after buying an additional 564,000 shares during the last quarter. Gabelli Funds LLC lifted its position in Gorman-Rupp by 0.9% during the second quarter. Gabelli Funds LLC now owns 773,664 shares of the industrial products company’s stock valued at $28,409,000 after acquiring an additional 7,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Gorman-Rupp by 2.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock valued at $34,985,000 after acquiring an additional 15,178 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Gorman-Rupp by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company’s stock worth $28,627,000 after purchasing an additional 2,970 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Gorman-Rupp by 3.0% in the second quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock worth $19,117,000 after purchasing an additional 14,997 shares during the last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.