Gorman-Rupp (NYSE:GRC) Rating Lowered to Buy at StockNews.com

Gorman-Rupp (NYSE:GRC) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Gorman-Rupp Trading Up 1.3 %

Gorman-Rupp stock opened at $42.55 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The stock has a market cap of $1.12 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The stock has a 50-day moving average of $39.11 and a two-hundred day moving average of $37.65. Gorman-Rupp has a one year low of $30.47 and a one year high of $42.89.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds have recently made changes to their positions in GRC. Bailard Inc. grew its stake in Gorman-Rupp by 1.8% during the 2nd quarter. Bailard Inc. now owns 20,995 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 378 shares during the last quarter. CWM LLC boosted its position in Gorman-Rupp by 76.8% in the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. ClariVest Asset Management LLC boosted its position in Gorman-Rupp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 18,920 shares of the industrial products company’s stock valued at $695,000 after buying an additional 529 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Gorman-Rupp by 3.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 20,012 shares of the industrial products company’s stock worth $779,000 after acquiring an additional 710 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Gorman-Rupp by 5,461.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 710 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

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.