Graham Co. (NYSE:GHM) Short Interest Up 18.0% in July

Graham Co. (NYSE:GHM) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 47,800 shares, a growth of 18.0% from the June 30th total of 40,500 shares. Based on an average trading volume of 20,800 shares, the short-interest ratio is currently 2.3 days. Approximately 0.5% of the company’s shares are sold short.

Shares of GHM stock traded down $0.68 on Wednesday, reaching $19.25. 10,800 shares of the stock were exchanged, compared to its average volume of 18,910. The stock has a market cap of $196.63 million, a PE ratio of 37.75 and a beta of 0.76. The stock’s 50 day moving average price is $20.30. Graham has a 1-year low of $18.62 and a 1-year high of $28.98.

Graham (NYSE:GHM) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $20.59 million during the quarter, compared to the consensus estimate of $19.19 million. Graham had a positive return on equity of 3.61% and a negative net margin of 3.08%. On average, equities research analysts expect that Graham will post 0.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Graham’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, August 20th. Graham’s dividend payout ratio is presently 78.43%.

Several brokerages have weighed in on GHM. Zacks Investment Research upgraded Graham from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Wednesday, August 7th. Ascendiant Capital Markets started coverage on Graham in a report on Monday, April 22nd. They set a “buy” rating and a $1.59 price objective for the company. Maxim Group restated a “buy” rating and set a $25.00 price objective on shares of Graham in a report on Friday, July 26th. Finally, ValuEngine downgraded Graham from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.53.

Several hedge funds have recently added to or reduced their stakes in GHM. BNP Paribas Arbitrage SA increased its holdings in shares of Graham by 589.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,006 shares of the industrial products company’s stock worth $39,000 after buying an additional 1,715 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Graham by 368.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,389 shares of the industrial products company’s stock worth $77,000 after buying an additional 2,665 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Graham by 41.3% during the 4th quarter. Bank of America Corp DE now owns 8,913 shares of the industrial products company’s stock worth $203,000 after buying an additional 2,603 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Graham during the 1st quarter worth $213,000. Finally, Walthausen & Co. LLC increased its holdings in shares of Graham by 6.4% during the 1st quarter. Walthausen & Co. LLC now owns 53,260 shares of the industrial products company’s stock worth $1,045,000 after buying an additional 3,190 shares during the last quarter. Institutional investors and hedge funds own 75.83% of the company’s stock.

Graham Company Profile

Graham Corporation, together with its subsidiaries, designs, manufactures, and supplies vacuum and heat transfer equipment for the chemical, defense, petrochemical, petroleum refining, electric power generation, and other industries worldwide. It offers heat transfer equipment, including surface condensers, heliflows, water heaters, and various types of heat exchangers, as well as custom-engineered ejectors; and vacuum equipment, such as steam jet ejector vacuum systems and liquid ring vacuum pumps.

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