Gorman-Rupp (NYSE:GRC) Reaches New 1-Year High – Should You Buy?

The Gorman-Rupp Company (NYSE:GRC) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.41 and last traded at $41.72, with a volume of 6295 shares trading hands. The stock had previously closed at $38.73.

Analyst Ratings Changes

Separately, StockNews.com lowered Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Gorman-Rupp Price Performance

The company has a market cap of $1.11 billion, a PE ratio of 26.74, a PEG ratio of 1.61 and a beta of 0.92. The firm’s 50-day moving average is $38.08 and its 200-day moving average is $37.05. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.75%. 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. Gorman-Rupp’s dividend payout ratio (DPR) is presently 49.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Gorman-Rupp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock valued at $49,156,000 after purchasing an additional 17,340 shares during the period. Cooke & Bieler LP grew its holdings in Gorman-Rupp by 3.3% in the second quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after purchasing an additional 17,977 shares during the period. Grace & White Inc. NY increased its stake in shares of Gorman-Rupp by 1.5% during the second quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock valued at $12,874,000 after purchasing an additional 5,033 shares in the last quarter. Robeco Schweiz AG purchased a new position in shares of Gorman-Rupp during the second quarter valued at approximately $7,876,000. Finally, Renaissance Technologies LLC boosted its position in shares of Gorman-Rupp by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock worth $4,434,000 after purchasing an additional 20,689 shares in the last quarter. Hedge funds and other institutional investors 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.