Gorman

StockNews.com assumed coverage on shares of Gorman-Rupp (NYSE:GRC - Get Free Report) in a note issued to investors on Thursday. The brokerage set a "buy" rating on the industrial products company's stock.

Separately, TheStreet upgraded Gorman-Rupp from a "c" rating to a "b-" rating in a research report on Friday, July 28th.

Check Out Our Latest Research Report on Gorman-Rupp

Gorman-Rupp stock opened at $31.00 on Thursday. The stock's 50 day moving average price is $29.15 and its 200 day moving average price is $26.85. Gorman-Rupp has a 1-year low of $22.67 and a 1-year high of $33.74. The company has a market cap of $811.89 million, a PE ratio of 37.35 and a beta of 0.85. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.50 and a quick ratio of 1.30.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.41 EPS for the quarter. Gorman-Rupp had a return on equity of 8.11% and a net margin of 3.43%. The business had revenue of $171.02 million for the quarter.

Several institutional investors have recently modified their holdings of GRC. Alliancebernstein L.P. increased its position in Gorman-Rupp by 13.1% during the second quarter. Alliancebernstein L.P. now owns 16,107 shares of the industrial products company's stock worth $464,000 after buying an additional 1,870 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Gorman-Rupp by 4.8% during the 2nd quarter. Wells Fargo & Company MN now owns 131,458 shares of the industrial products company's stock worth $3,790,000 after purchasing an additional 6,021 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Gorman-Rupp by 55.0% during the second quarter. Goldman Sachs Group Inc. now owns 54,388 shares of the industrial products company's stock worth $1,568,000 after buying an additional 19,303 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Gorman-Rupp in the second quarter valued at approximately $58,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Gorman-Rupp by 43.8% during the second quarter. Quadrature Capital Ltd now owns 14,142 shares of the industrial products company's stock valued at $408,000 after buying an additional 4,309 shares during the period. 59.18% of the stock is currently owned by institutional investors and hedge funds.

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.

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