Graham (NYSE:GHM) Sets New 52-Week High – What’s Next?

Graham Co. (NYSE:GHM) hit a new 52-week high on Friday . The stock 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.

Wall Street Analysts Forecast Growth

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

Graham Stock Performance

The company has a market capitalization of $508.78 million, a PE ratio of 65.80 and a beta of 0.73. The firm has a fifty day simple moving average of $40.53 and a 200 day simple moving average of $33.53.

Graham (NYSE:GHM) last posted its quarterly earnings results 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 analyst estimates of $50.50 million. Graham had a net margin of 3.95% and a return on equity of 7.91%. During the same quarter in the previous year, the business posted $0.04 EPS. Research analysts expect that Graham Co. will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Graham

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in shares of Graham in the 3rd quarter valued at about $1,103,000. Acadian Asset Management LLC grew its holdings in Graham by 21.4% in the second quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock worth $5,858,000 after purchasing an additional 36,724 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Graham in the 2nd quarter worth $904,000. State Street Corp grew its stake in Graham by 22.6% during the 3rd quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock worth $4,693,000 after buying an additional 29,277 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Graham by 285.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,980 shares of the industrial products company’s stock worth $1,153,000 after buying an additional 28,863 shares during the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

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.