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Jun 07, 2024

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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