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

Graham Corporation (NYSE:GHM)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $125.82 and last traded at $124.0180, with a volume of 295504 shares traded. The stock had previously closed at $119.82.

Analyst Ratings Changes

Several research firms recently issued reports on GHM. Oppenheimer lifted their price objective on Graham to $130.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Weiss Ratings raised Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 9th. Wall Street Zen downgraded Graham from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Northland Securities upped their price objective on shares of Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $132.50.

Graham Trading Down 3.4%

The stock has a fifty day moving average of $103.00 and a two-hundred day moving average of $86.94. The company has a market capitalization of $1.35 billion, a PE ratio of 102.14 and a beta of 1.01. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.09.

Graham (NYSE:GHM) last issued its earnings results on Monday, June 8th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $67.08 million during the quarter, compared to analyst estimates of $59.95 million. Graham had a return on equity of 11.94% and a net margin of 5.10%.Graham’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Graham Corporation will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Graham

Institutional investors and hedge funds have recently made changes to their positions in the business. Auto Owners Insurance Co increased its holdings in shares of Graham by 6,323.0% in the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock worth $4,538,000 after buying an additional 695,530 shares during the period. Vanguard Group Inc. grew its holdings in shares of Graham by 2.2% in 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 last quarter. Royce & Associates LP increased its stake in shares of Graham by 2.7% in the fourth quarter. Royce & Associates LP now owns 472,207 shares of the industrial products company’s stock worth $30,330,000 after buying an additional 12,509 shares during the period. Wasatch Advisors LP raised its holdings in Graham by 6.1% during the 2nd quarter. Wasatch Advisors LP now owns 316,203 shares of the industrial products company’s stock valued at $15,655,000 after buying an additional 18,084 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Graham by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 298,020 shares of the industrial products company’s stock valued at $19,142,000 after buying an additional 24,005 shares during the last quarter. 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.