Graham (NYSE:GHM) Sets New 52-Week High – Time to Buy?

Graham Co. (NYSE:GHM)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $46.23 and last traded at $46.09, with a volume of 9796 shares traded. The stock had previously closed at $45.51.

Analyst Ratings Changes

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

Graham Stock Down 8.9 %

The company has a market capitalization of $447.03 million, a P/E ratio of 57.82 and a beta of 0.73. The stock has a fifty day simple moving average of $37.75 and a 200-day simple moving average of $32.39.

Graham (NYSE:GHM) last released 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 for the quarter, compared to analysts’ expectations of $50.50 million. Graham had a net margin of 3.95% and a return on equity of 7.91%. During the same period in the prior year, the firm earned $0.04 earnings per share. Analysts predict that Graham Co. will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Graham

Several hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC lifted its stake in Graham by 7.2% in the second quarter. First Eagle Investment Management LLC now owns 313,662 shares of the industrial products company’s stock valued at $8,833,000 after buying an additional 20,933 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Graham by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 233,122 shares of the industrial products company’s stock worth $6,900,000 after acquiring an additional 2,952 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Graham by 21.4% in 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 acquiring an additional 36,724 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Graham by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 190,253 shares of the industrial products company’s stock worth $5,630,000 after purchasing an additional 620 shares during the last quarter. Finally, State Street Corp raised its position in shares of Graham by 22.6% in the third quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock valued at $4,693,000 after buying an additional 29,277 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

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.