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 released on Thursday.

Gorman-Rupp Trading Up 1.4 %

GRC opened at $42.58 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The company’s 50 day simple moving average is $39.20 and its two-hundred day simple moving average is $37.71. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. Gorman-Rupp has a 1-year low of $30.47 and a 1-year high of $42.89.

Gorman-Rupp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.74%. Gorman-Rupp’s dividend payout ratio (DPR) is 51.03%.

Institutional Investors Weigh In On Gorman-Rupp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Gorman-Rupp by 5,461.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after buying an additional 710 shares during the period. Financial Management Professionals Inc. acquired a new stake in Gorman-Rupp during the third quarter worth $29,000. nVerses Capital LLC purchased a new stake in Gorman-Rupp in the third quarter valued at $31,000. CWM LLC grew its holdings in shares of Gorman-Rupp by 76.8% during the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 400 shares during the period. Finally, Copeland Capital Management LLC purchased a new position in shares of Gorman-Rupp during the 3rd quarter worth $58,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

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.