Graham (NYSE:GHM) Sees Unusually-High Trading Volume – Here’s Why

Shares of Graham Corporation (NYSE:GHM) saw unusually-high trading volume on Monday . Approximately 154,411 shares were traded during trading, an increase of 24% from the previous session’s volume of 124,723 shares.The stock last traded at $94.7650 and had previously closed at $98.19.

Analyst Upgrades and Downgrades

GHM has been the subject of several recent research reports. Northland Securities upgraded shares of Graham from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Zacks Research raised shares of Graham from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Oppenheimer began coverage on shares of Graham in a report on Wednesday, March 18th. They set an “outperform” rating and a $100.00 price target for the company. Finally, Weiss Ratings cut shares of Graham from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.67.

Graham Stock Performance

The company has a market cap of $1.15 billion, a PE ratio of 72.98 and a beta of 1.05. The company has a 50 day simple moving average of $86.92 and a two-hundred day simple moving average of $74.17.

Graham (NYSE:GHM) last announced its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. The business had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $52.36 million. Graham had a return on equity of 13.26% and a net margin of 6.28%. As a group, analysts expect that Graham Corporation will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

Several large investors have recently made changes to their positions in the company. Auto Owners Insurance Co raised its holdings in Graham by 6,323.0% during the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock valued at $4,538,000 after buying an additional 695,530 shares in the last quarter. Vanguard Group Inc. boosted its position in Graham by 2.2% during the third quarter. Vanguard Group Inc. now owns 602,448 shares of the industrial products company’s stock worth $33,074,000 after purchasing an additional 12,974 shares during the period. Royce & Associates LP boosted its position in Graham by 2.7% during the fourth quarter. Royce & Associates LP now owns 472,207 shares of the industrial products company’s stock worth $30,330,000 after purchasing an additional 12,509 shares during the period. Wasatch Advisors LP boosted its position in Graham by 6.1% during the second quarter. Wasatch Advisors LP now owns 316,203 shares of the industrial products company’s stock worth $15,655,000 after purchasing an additional 18,084 shares during the period. Finally, William Blair Investment Management LLC boosted its position in Graham by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 298,020 shares of the industrial products company’s stock worth $19,142,000 after purchasing an additional 24,005 shares during the period. Institutional investors own 69.46% of the company’s stock.

About Graham

Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.

The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.