Posted by admin on Aug 12th, 2022
Gorman-Rupp (NYSE:GRC – Get Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
Separately, TheStreet downgraded Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Wednesday, June 8th.
Shares of NYSE GRC opened at $27.62 on Wednesday. The stock has a fifty day simple moving average of $28.47 and a two-hundred day simple moving average of $32.77. Gorman-Rupp has a 1-year low of $26.83 and a 1-year high of $47.12. The firm has a market cap of $720.74 million, a price-to-earnings ratio of 32.88 and a beta of 0.64. The company has a current ratio of 2.42, a quick ratio of 1.33 and a debt-to-equity ratio of 1.27.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D bought a new position in shares of Gorman-Rupp during the fourth quarter valued at approximately $770,000. Lbmc Investment Advisors LLC boosted its stake in Gorman-Rupp by 8,757.4% in the fourth quarter. Lbmc Investment Advisors LLC now owns 61,116 shares of the industrial products company’s stock valued at $2,723,000 after acquiring an additional 60,426 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Gorman-Rupp by 22.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 418,149 shares of the industrial products company’s stock valued at $18,629,000 after acquiring an additional 76,787 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Gorman-Rupp in the fourth quarter valued at approximately $110,000. Finally, Strs Ohio boosted its stake in Gorman-Rupp by 73.5% in the first quarter. Strs Ohio now owns 8,500 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 3,600 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.
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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