Gorman-Rupp (NYSE:GRC) Downgraded to “Buy” Rating by StockNews.com

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

Gorman-Rupp Trading Up 2.5 %

Shares of GRC stock traded up $1.01 during trading hours on Thursday, hitting $41.99. The company had a trading volume of 57,048 shares, compared to its average volume of 86,268. The company’s fifty day moving average is $39.01 and its 200 day moving average is $37.61. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. Gorman-Rupp has a fifty-two week low of $30.47 and a fifty-two week high of $42.89. The stock has a market capitalization of $1.10 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92.

Hedge Funds Weigh In On Gorman-Rupp

Several large investors have recently made changes to their positions in the stock. Bailard Inc. lifted its holdings in shares of Gorman-Rupp by 1.8% in the 2nd quarter. Bailard Inc. now owns 20,995 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 378 shares during the last quarter. CWM LLC lifted its holdings in 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 buying an additional 400 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in Gorman-Rupp by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 18,920 shares of the industrial products company’s stock worth $695,000 after buying an additional 529 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Gorman-Rupp by 3.7% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 20,012 shares of the industrial products company’s stock worth $779,000 after buying an additional 710 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings 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 buying an additional 710 shares in the last quarter. 59.26% of the stock is currently 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.