Graham (NYSE:GHM) Hits New 12-Month High – Here’s What Happened

Shares of Graham Co. (NYSE:GHM) reached a new 52-week high during trading on Friday . The company traded as high as $47.61 and last traded at $47.05, with a volume of 39712 shares traded. The stock had previously closed at $44.14.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Graham Price Performance

The firm has a market capitalization of $508.78 million, a price-to-earnings ratio of 65.80 and a beta of 0.73. The business has a fifty day moving average price of $40.53 and a two-hundred day moving average price of $33.53.

Graham (NYSE:GHM) last announced its quarterly earnings data on Friday, November 8th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.18 by $0.13. The business had revenue of $53.56 million during the quarter, compared to analysts’ expectations of $50.50 million. Graham had a net margin of 3.95% and a return on equity of 7.91%. During the same period in the previous year, the business posted $0.04 EPS. On average, research analysts predict that Graham Co. will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On Graham

Several hedge funds have recently bought and sold shares of GHM. Wellington Management Group LLP acquired a new stake in Graham during the third quarter valued at $1,103,000. Bank of New York Mellon Corp acquired a new stake in shares of Graham during the 2nd quarter valued at about $904,000. First Eagle Investment Management LLC increased its stake in shares of Graham by 7.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 313,662 shares of the industrial products company’s stock valued at $8,833,000 after purchasing an additional 20,933 shares in the last quarter. State Street Corp raised its holdings in Graham by 22.6% in the 3rd quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock worth $4,693,000 after purchasing an additional 29,277 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Graham by 85.5% during the second quarter. Cubist Systematic Strategies LLC now owns 10,439 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 4,811 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

About Graham

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.