Graham Corp. (GHM) Hits New 1-Year High at $21.05
Graham Corp. (NYSE:GHM) shares hit a new 52-week high on Monday . The stock traded as high as $21.05 and last traded at $21.00, with a volume of 15,499 shares. The stock had previously closed at $20.35.
Separately, Zacks Investment Research upgraded Graham Corp. from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, March 30th.
The company’s 50 day moving average is $18.59 and its 200-day moving average is $18.05. The stock has a market cap of $202.86 million and a PE ratio of 34.48.
Graham Corp. (NYSE:GHM) last posted its quarterly earnings results on Wednesday, May 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.07. The company had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $23.54 million. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was down 40.5% compared to the same quarter last year. On average, equities research analysts forecast that Graham Corp. will post $0.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, June 9th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, June 7th. This represents a $0.36 annualized dividend and a yield of 1.71%.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Graham Corp. by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 289,243 shares of the company’s stock valued at $4,865,000 after buying an additional 19,319 shares in the last quarter. Opus Capital Group LLC boosted its position in shares of Graham Corp. by 6.2% in the fourth quarter. Opus Capital Group LLC now owns 226,042 shares of the company’s stock worth $3,802,000 after buying an additional 13,156 shares during the period. Morgan Stanley boosted its position in shares of Graham Corp. by 6.0% in the fourth quarter. Morgan Stanley now owns 82,225 shares of the company’s stock worth $1,383,000 after buying an additional 4,622 shares during the period. Finally, Oppenheimer & Close LLC boosted its position in shares of Graham Corp. by 16.8% in the fourth quarter. Oppenheimer & Close LLC now owns 62,338 shares of the company’s stock worth $1,049,000 after buying an additional 8,986 shares during the period.
Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is also a nuclear code accredited fabrication and specialty machining company.
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