Graham Co. (NYSE:GHM) Sees Large Decline in Short Interest

Graham Co. (NYSE:GHM) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 191,200 shares, a decline of 11.2% from the October 15th total of 215,200 shares. Based on an average daily volume of 39,800 shares, the short-interest ratio is presently 4.8 days.

Graham Stock Performance

Shares of Graham stock traded down $0.19 during trading hours on Tuesday, reaching $40.58. The company’s stock had a trading volume of 23,799 shares, compared to its average volume of 71,333. The stock’s fifty day simple moving average is $31.41 and its two-hundred day simple moving average is $30.05. The company has a market capitalization of $441.92 million, a P/E ratio of 56.86 and a beta of 0.56. Graham has a one year low of $17.02 and a one year high of $42.65.

Graham (NYSE:GHM) last released its quarterly earnings results on Friday, November 8th. The industrial products company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.13. Graham had a net margin of 3.95% and a return on equity of 7.91%. The business had revenue of $53.56 million for the quarter, compared to analysts’ expectations of $50.50 million. During the same period in the previous year, the company earned $0.04 earnings per share. As a group, research analysts forecast that Graham will post 1.03 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GHM. Itau Unibanco Holding S.A. purchased a new position in shares of Graham in the 2nd quarter worth about $31,000. nVerses Capital LLC purchased a new stake in Graham in the second quarter worth $37,000. SG Americas Securities LLC purchased a new stake in Graham during the third quarter valued at about $112,000. Lazard Asset Management LLC boosted its holdings in shares of Graham by 8,163.5% in the first quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 4,245 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Graham by 36.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,096 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 1,374 shares in the last quarter. Institutional investors own 69.46% of the company’s stock.

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.