Gorman-Rupp (NYSE:GRC) Upgraded to “Strong-Buy” at StockNews.com

Gorman-Rupp (NYSE:GRC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Gorman-Rupp Price Performance

Shares of GRC stock opened at $42.29 on Friday. The stock’s fifty day moving average is $39.49 and its 200-day moving average is $37.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The stock has a market capitalization of $1.11 billion, a PE ratio of 29.17, a PEG ratio of 1.86 and a beta of 0.92. Gorman-Rupp has a 52 week low of $30.47 and a 52 week high of $43.79.

Institutional Trading of Gorman-Rupp

Several large investors have recently made changes to their positions in GRC. Mechanics Financial Corp grew its holdings in shares of Gorman-Rupp by 105.7% during the third quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock worth $39,450,000 after purchasing an additional 520,361 shares during the last quarter. Robeco Schweiz AG bought a new stake in shares of Gorman-Rupp during the second quarter worth $7,876,000. Needham Investment Management LLC grew its holdings in shares of Gorman-Rupp by 218.8% during the third quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company’s stock worth $4,966,000 after purchasing an additional 87,500 shares during the last quarter. Barclays PLC boosted its holdings in Gorman-Rupp by 317.9% in the third quarter. Barclays PLC now owns 34,777 shares of the industrial products company’s stock valued at $1,355,000 after acquiring an additional 26,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Gorman-Rupp by 44.8% in the third quarter. Assenagon Asset Management S.A. now owns 79,770 shares of the industrial products company’s stock valued at $3,107,000 after acquiring an additional 24,683 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

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.