Short Interest in Graham Co. (NYSE:GHM) Drops By 7.4%

Graham Co. (NYSE:GHM) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 247,800 shares, a decrease of 7.4% from the August 31st total of 267,600 shares. Based on an average daily volume of 82,600 shares, the short-interest ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GHM shares. StockNews.com raised shares of Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Noble Financial initiated coverage on Graham in a report on Monday, June 24th. They issued an “outperform” rating and a $35.00 price objective for the company.

Institutional Trading of Graham

Large investors have recently bought and sold shares of the business. Ellsworth Advisors LLC raised its stake in shares of Graham by 2.5% in the 2nd quarter. Ellsworth Advisors LLC now owns 31,364 shares of the industrial products company’s stock valued at $883,000 after purchasing an additional 759 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Graham in the 2nd quarter valued at approximately $31,000. nVerses Capital LLC acquired a new position in Graham during the 2nd quarter worth approximately $37,000. Essex Investment Management Co. LLC raised its holdings in shares of Graham by 1.4% in the first quarter. Essex Investment Management Co. LLC now owns 179,473 shares of the industrial products company’s stock valued at $4,896,000 after purchasing an additional 2,437 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Graham by 9.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 46,983 shares of the industrial products company’s stock worth $1,282,000 after purchasing an additional 4,122 shares in the last quarter. 69.46% of the stock is owned by institutional investors.

Graham Stock Down 1.0 %

NYSE GHM traded down $0.31 during trading on Tuesday, reaching $29.28. 25,914 shares of the stock traded hands, compared to its average volume of 75,505. Graham has a fifty-two week low of $15.01 and a fifty-two week high of $34.72. The firm has a market cap of $318.30 million, a price-to-earnings ratio of 68.63 and a beta of 0.56. The stock’s 50-day moving average price is $30.07 and its 200 day moving average price is $29.07.

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

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.