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

The Gorman-Rupp Company (NYSE:GRC) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analysts Set New Price Targets

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

Gorman-Rupp Stock Performance

The business has a fifty day moving average of $38.58 and a 200-day moving average of $36.90. 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 company has a current ratio of 2.45, a quick ratio of 1.44 and a debt-to-equity ratio of 1.05.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, July 26th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities research analysts anticipate that The Gorman-Rupp Company will post 1.85 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.88%. Gorman-Rupp’s dividend payout ratio is 52.17%.

Institutional Investors Weigh In On Gorman-Rupp

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Gorman-Rupp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock worth $49,156,000 after buying an additional 17,340 shares during the period. Cooke & Bieler LP boosted its position in shares of Gorman-Rupp by 3.3% during the second quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock valued at $20,683,000 after purchasing an additional 17,977 shares in the last quarter. Grace & White Inc. NY grew its stake in Gorman-Rupp by 1.5% in the second quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock worth $12,874,000 after purchasing an additional 5,033 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Gorman-Rupp by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock worth $11,244,000 after purchasing an additional 944 shares during the period. Finally, Robeco Schweiz AG bought a new position in Gorman-Rupp in the second quarter worth $7,876,000. 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.