Gorman-Rupp (NYSE:GRC) Sets New 12-Month High – Time to Buy?

Shares of The Gorman-Rupp Company (NYSE:GRC) reached a new 52-week high during trading on Monday . The stock traded as high as $43.26 and last traded at $43.26, with a volume of 4534 shares. 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 report on Thursday, November 21st.

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 firm has a 50 day moving average price of $39.31 and a 200 day moving average price of $37.85. The stock has a market cap of $1.12 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.86 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. Investors of record on Friday, November 15th will be paid a $0.185 dividend. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.74%. Gorman-Rupp’s payout ratio is 51.03%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GRC. Dimensional Fund Advisors LP raised its holdings in Gorman-Rupp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock worth $49,156,000 after purchasing an additional 17,340 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Gorman-Rupp by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock valued at $4,434,000 after purchasing an additional 20,689 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Gorman-Rupp by 5,461.5% in 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 in the last quarter. Summit Global Investments purchased a new position in Gorman-Rupp during the 3rd quarter worth $470,000. Finally, Robeco Schweiz AG acquired a new position in Gorman-Rupp during the 2nd quarter valued at about $7,876,000. 59.26% of the stock is owned by institutional investors.

About Gorman-Rupp

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.