Gorman-Rupp (NYSE:GRC) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Gorman-Rupp Company (The) (NYSE:GRC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.78 and traded as high as $46.97. Gorman-Rupp shares last traded at $46.12, with a volume of 235,541 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Gorman-Rupp currently has a consensus rating of “Buy”.

Gorman-Rupp Trading Down 1.1%

The business’s 50-day moving average is $43.33 and its two-hundred day moving average is $38.78. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.21 billion, a PE ratio of 23.41, a PEG ratio of 1.76 and a beta of 1.22.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. The firm had revenue of $179.05 million during the quarter, compared to analysts’ expectations of $174.60 million. On average, analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Gorman-Rupp’s dividend payout ratio is presently 37.56%.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRC. Fifth Third Bancorp purchased a new position in Gorman-Rupp in the 1st quarter valued at about $45,000. Osaic Holdings Inc. boosted its position in Gorman-Rupp by 125.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after buying an additional 939 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Gorman-Rupp by 135.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,180 shares during the last quarter. Quantbot Technologies LP boosted its position in Gorman-Rupp by 42.3% in the 1st quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock valued at $106,000 after buying an additional 896 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Gorman-Rupp in the 3rd quarter valued at about $108,000. 59.26% of the stock is owned by hedge funds and other institutional investors.

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.