Graham Co. (NYSE:GHM) Short Interest Update

Graham Co. (NYSE:GHM) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 267,600 shares, a growth of 18.8% from the August 15th total of 225,300 shares. Based on an average daily volume of 86,200 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GHM. Hillsdale Investment Management Inc. grew its holdings in Graham by 1,640.8% during the first quarter. Hillsdale Investment Management Inc. now owns 147,972 shares of the industrial products company’s stock worth $4,037,000 after acquiring an additional 139,472 shares during the period. Atria Investments Inc acquired a new stake in Graham during the first quarter worth about $1,118,000. Acadian Asset Management LLC grew its holdings in Graham by 21.4% during the second quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock worth $5,858,000 after acquiring an additional 36,724 shares during the period. Bank of New York Mellon Corp acquired a new stake in Graham during the second quarter worth about $904,000. Finally, Wasatch Advisors LP grew its holdings in Graham by 7.4% during the first quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock worth $9,841,000 after acquiring an additional 24,961 shares during the period. 69.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GHM has been the subject of a number of research analyst reports. Noble Financial initiated coverage on Graham in a research note on Monday, June 24th. They issued an “outperform” rating and a $35.00 price target for the company. StockNews.com upgraded Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Graham Trading Up 1.7 %

Shares of GHM stock traded up $0.50 during mid-day trading on Friday, reaching $29.53. The stock had a trading volume of 70,149 shares, compared to its average volume of 78,167. The business’s fifty day moving average is $30.04 and its 200-day moving average is $28.63. The firm has a market cap of $321.58 million, a price-to-earnings ratio of 68.67 and a beta of 0.56. Graham has a 1-year low of $14.78 and a 1-year high of $34.72.

Graham (NYSE:GHM) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The business had revenue of $49.95 million for the quarter, compared to analyst estimates of $50.00 million. Graham had a return on equity of 5.26% and a net margin of 2.60%. During the same period in the prior year, the company earned $0.25 earnings per share. On average, analysts forecast that Graham will post 0.95 earnings per share for the current 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.