Gorman-Rupp (NYSE:GRC) Stock Price Passes Above 200-Day Moving Average of $36.90

The Gorman-Rupp Company (NYSE:GRC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $36.90 and traded as high as $38.83. Gorman-Rupp shares last traded at $38.38, with a volume of 480,260 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Gorman-Rupp Price Performance

The company has a current ratio of 2.45, a quick ratio of 1.44 and a debt-to-equity ratio of 1.05. The company has a market cap of $1.01 billion, a PE ratio of 27.81, a P/E/G ratio of 1.51 and a beta of 0.92. The firm has a 50 day moving average of $38.58 and a two-hundred day moving average of $36.90.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, July 26th. The industrial products company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. Gorman-Rupp had a return on equity of 11.39% and a net margin of 5.20%. The firm had revenue of $169.51 million for the quarter, compared to analysts’ expectations of $174.44 million. Research analysts predict that The Gorman-Rupp Company will post 1.85 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.72 dividend on an annualized basis and a yield of 1.88%. Gorman-Rupp’s dividend payout ratio is currently 52.17%.

Institutional Investors Weigh In On Gorman-Rupp

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its holdings in Gorman-Rupp by 76.8% in the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after buying an additional 400 shares in the last quarter. Mather Group LLC. grew its stake in shares of Gorman-Rupp by 517.0% in the second quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 1,339 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Gorman-Rupp by 63.8% during the first quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 797 shares during the last quarter. New York State Teachers Retirement System bought a new position in Gorman-Rupp during the first quarter valued at approximately $82,000. Finally, EntryPoint Capital LLC purchased a new stake in Gorman-Rupp in the first quarter worth approximately $131,000. Institutional investors own 59.26% of the company’s stock.

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.