Gorman-Rupp (NYSE:GRC) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Gorman-Rupp (NYSE:GRC) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

Gorman-Rupp Trading Up 1.0 %

Shares of NYSE:GRC opened at $37.38 on Tuesday. The company has a current ratio of 2.45, a quick ratio of 1.33 and a debt-to-equity ratio of 1.05. Gorman-Rupp has a 12-month low of $28.87 and a 12-month high of $42.24. The business has a 50 day moving average of $37.86 and a two-hundred day moving average of $36.42. The company has a market capitalization of $979.77 million, a PE ratio of 27.09, a PEG ratio of 1.67 and a beta of 0.94.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.93%. Gorman-Rupp’s dividend payout ratio is presently 52.17%.

Hedge Funds Weigh In On Gorman-Rupp

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Gorman-Rupp by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock valued at $46,960,000 after purchasing an additional 13,129 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Gorman-Rupp by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock valued at $11,244,000 after buying an additional 944 shares in the last quarter. Quest Partners LLC acquired a new stake in Gorman-Rupp in the 4th quarter worth about $120,000. CANADA LIFE ASSURANCE Co increased its stake in Gorman-Rupp by 413.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 7,157 shares of the industrial products company’s stock worth $283,000 after buying an additional 5,762 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Gorman-Rupp by 55.3% in the first quarter. Quadrature Capital Ltd now owns 9,737 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 3,468 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.