Tag - Grc

Gorman-Rupp Co. (AMEX:GRC) has a stellar reputation making one of those not-so-sexy but all-so-necessary line of products — industrial pumps and pumping systems.

The Mansfield, Ohio-based company designs, manufactures and sells all sorts of pumps to move liquids from Point A to Point B. Its products are used in water, wastewater, construction, industrial, petroleum, agriculture, fire protection and heating/ventilation/air conditioning. Last year, when flooding struck its hometown, Gorman-Rupp had to put its pumps to use to clear one building of sewage and water from a nearby stream.

Gorman-Rupp also has managed to stave off the substantial buildup of rust that plagues many other old-line industrial manufacturers in the decaying Rust Belt that includes the Buckeye State. Gorman-Rupp has four U.S. operations, and others in Canada, Ireland and the Netherlands, with a global network of 1,000 distributors.

Just how durable are Gorman-Rupp’s products? The company’s 2007 annual report, celebrating its 75 years in operation, has on the cover a photo of Pump No. 1, which was manufactured in March 1933 and remained in continuous operation at an ice company plant for 20 years.

Gorman-Rupp’s stock shows similar durability. But according to a survey by Thomson Financial of four analysts who follow Gorman-Rupp, three have it at “hold” with the other saying it’s a “sell.”

It’s a valuation thing; something that Friedman, Billings, Ramsey & Co. analysts noted in an April 30 downgrade to “underperform” from “market perform” because of the lofty share price following release of first-quarter results. Still, FBR’s analysts raised . . .