Graham (NYSE:GHM) Shares Gap Up After Better-Than-Expected Earnings

Graham Co. (NYSE:GHM)’s share price gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $42.00, but opened at $49.50. Graham shares last traded at $46.87, with a volume of 139,994 shares trading hands.

The industrial products company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. The firm had revenue of $59.35 million during the quarter, compared to the consensus estimate of $55.67 million. Graham had a net margin of 4.60% and a return on equity of 9.35%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Graham from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in Graham by 26.0% in the 4th quarter. Legal & General Group Plc now owns 2,599 shares of the industrial products company’s stock worth $116,000 after buying an additional 536 shares during the period. Algert Global LLC boosted its holdings in Graham by 7.4% in the 1st quarter. Algert Global LLC now owns 8,498 shares of the industrial products company’s stock worth $245,000 after buying an additional 588 shares during the period. Rhumbline Advisers boosted its holdings in Graham by 6.7% in the 4th quarter. Rhumbline Advisers now owns 10,397 shares of the industrial products company’s stock worth $462,000 after buying an additional 654 shares during the period. Bank of New York Mellon Corp boosted its holdings in Graham by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 27,647 shares of the industrial products company’s stock worth $797,000 after buying an additional 696 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Graham in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Graham Trading Up 3.7%

The company’s fifty day moving average is $34.33 and its 200 day moving average is $37.72. The company has a market capitalization of $505.01 million, a P/E ratio of 55.80 and a beta of 0.85.

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.