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Gorman-Rupp (NYSE:GRC - Get Rating) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "hold" rating in a report released on Tuesday.
Separately, TheStreet downgraded shares of Gorman-Rupp from a "b-" rating to a "c+" rating in a report on Wednesday, June 8th.Gorman-Rupp Stock Down 1.3 %
Shares of Gorman-Rupp stock opened at $30.31 on Tuesday. Gorman-Rupp has a 52-week low of $26.83 and a 52-week high of $47.12. The firm's 50 day moving average price is $28.63 and its 200-day moving average price is $33.36. The company has a market cap of $790.45 million, a P/E ratio of 36.08 and a beta of 0.64. Institutional Trading of Gorman-Rupp
Several hedge funds have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in Gorman-Rupp in the 4th quarter worth $218,000. Janney Montgomery Scott LLC raised its position in shares of Gorman-Rupp by 3.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,715 shares of the industrial products company's stock worth $1,279,000 after purchasing an additional 975 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Gorman-Rupp in the fourth quarter worth $438,000. State of New Jersey Common Pension Fund D bought a new stake in Gorman-Rupp in the fourth quarter valued at approximately $770,000. Finally, Qube Research & Technologies Ltd increased its position in Gorman-Rupp by 132.1% during the 4th quarter. Qube Research & Technologies Ltd now owns 20,340 shares of the industrial products company's stock worth $906,000 after buying an additional 11,576 shares during the period. Institutional investors own 55.88% of the company's stock. About Gorman-Rupp (Get Rating)
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.Further ReadingGet a free copy of the StockNews.com research report on Gorman-Rupp (GRC)MarketBeat Podcast: Find Investing Opportunities For The Rest of 2022The Colgate-Palmolive Growth Outlook Brightens Deep Value High Yield Newell Brands Is Ready To Bottom These Stocks Outperformed Last Time There Was A RecessionDoes Rivian's Stock Still Have A Future?
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