Graham Co. (NYSE:GHM) Short Interest Down 8.5% in August

Graham Co. (NYSE:GHM) was the target of a significant drop in short interest in August. As of August 15th, there was short interest totalling 225,300 shares, a drop of 8.5% from the July 31st total of 246,100 shares. Based on an average daily trading volume, of 92,600 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Trading of Graham

A number of large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its position in shares of Graham by 7.4% in the first quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock valued at $9,841,000 after buying an additional 24,961 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Graham by 7.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 313,662 shares of the industrial products company’s stock valued at $8,833,000 after acquiring an additional 20,933 shares during the period. Acadian Asset Management LLC lifted its holdings in Graham by 21.4% during the 2nd quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock valued at $5,858,000 after purchasing an additional 36,724 shares during the last quarter. Essex Investment Management Co. LLC boosted its position in Graham by 1.4% during the first quarter. Essex Investment Management Co. LLC now owns 179,473 shares of the industrial products company’s stock worth $4,896,000 after purchasing an additional 2,437 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Graham by 1,640.8% in the first quarter. Hillsdale Investment Management Inc. now owns 147,972 shares of the industrial products company’s stock valued at $4,037,000 after purchasing an additional 139,472 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Graham from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Noble Financial started coverage on shares of Graham in a research report on Monday, June 24th. They issued an “outperform” rating and a $35.00 target price for the company.

Graham Stock Performance

GHM traded up $0.49 on Monday, hitting $31.84. 31,500 shares of the company were exchanged, compared to its average volume of 80,027. The stock’s fifty day moving average is $29.84 and its 200-day moving average is $28.25. Graham has a 12 month low of $14.78 and a 12 month high of $34.72. The company has a market cap of $346.13 million, a PE ratio of 74.05 and a beta of 0.59.

Graham (NYSE:GHM) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. Graham had a return on equity of 5.26% and a net margin of 2.60%. The company had revenue of $49.95 million for the quarter, compared to analysts’ expectations of $50.00 million. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, equities research analysts expect that Graham will post 0.95 EPS for the current fiscal year.

Graham Company Profile

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.