Gorman-Rupp (NYSE:GRC) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Gorman-Rupp Company (The) (NYSE:GRC)’s stock price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $74.80 and traded as high as $75.84. Gorman-Rupp shares last traded at $74.83, with a volume of 149,229 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday, September 9th. Finally, Zacks Research lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Gorman-Rupp Stock Up 1.5%

The firm has a fifty day moving average price of $74.80 and a 200-day moving average price of $71.85. The company has a quick ratio of 1.82, a current ratio of 2.81 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 2.12 and a beta of 1.32.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, October 23rd. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.70 by $0.16. Gorman-Rupp had a return on equity of 17.47% and a net margin of 10.20%. The firm had revenue of $193.25 million during the quarter, compared to analyst estimates of $181.55 million. As a group, sell-side analysts forecast that Gorman-Rupp Company will post 2.67 EPS for the current year.

Gorman-Rupp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s dividend payout ratio is currently 27.14%.

Insider Activity

In related news, VP D. Patrick Wischmeier sold 5,153 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total value of $399,975.86. Following the sale, the vice president directly owned 1,409 shares of the company’s stock, valued at approximately $109,366.58. This trade represents a 78.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On Gorman-Rupp

Several institutional investors and hedge funds have recently bought and sold shares of GRC. BlackRock Inc. acquired a new position in shares of Gorman-Rupp in the 2nd quarter valued at $165,116,000. First Trust Advisors LP grew its stake in shares of Gorman-Rupp by 326.1% during the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock valued at $32,581,000 after buying an additional 401,340 shares during the period. Legal & General Group Plc purchased a new stake in shares of Gorman-Rupp during the 2nd quarter valued at $33,565,000. Bank of America Corp DE purchased a new position in shares of Gorman-Rupp in the 2nd quarter worth $28,291,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Gorman-Rupp in the 2nd quarter worth $16,235,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.