Graham (NYSE:GHM) Hits New 12-Month High - Here's Why

Graham Corporation (NYSE:GHM - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $53.53 and last traded at $52.51, with a volume of 130720 shares. The stock had previously closed at $52.68.

Analyst Upgrades and Downgrades

GHM has been the subject of several recent research reports. Maxim Group raised Graham to a "buy" rating and set a $65.00 price objective for the company in a report on Wednesday, July 2nd. Northland Securities initiated coverage on Graham in a report on Monday, June 23rd. They issued an "outperform" rating and a $55.00 price objective for the company. Finally, Northland Capmk raised Graham to a "strong-buy" rating in a report on Monday, June 23rd.

Graham Trading Up 0.5%

The firm has a fifty day moving average of $42.12 and a two-hundred day moving average of $38.43. The company has a market cap of $578.27 million, a PE ratio of 47.58 and a beta of 0.90.

Graham (NYSE:GHM - Get Free Report) last posted its earnings results on Monday, June 9th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.17. The business had revenue of $59.35 million during the quarter, compared to analyst estimates of $55.67 million. Graham had a return on equity of 12.07% and a net margin of 5.83%. Sell-side analysts expect that Graham Corporation will post 1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in Graham during the 1st quarter valued at about $467,000. Advisors Asset Management Inc. grew its holdings in shares of Graham by 58.1% during the first quarter. Advisors Asset Management Inc. now owns 11,796 shares of the industrial products company's stock worth $340,000 after purchasing an additional 4,333 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Graham by 30.2% during the first quarter. Panagora Asset Management Inc. now owns 54,971 shares of the industrial products company's stock worth $1,584,000 after purchasing an additional 12,739 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Graham by 1.8% during the first quarter. Gamco Investors INC. ET AL now owns 281,285 shares of the industrial products company's stock worth $8,107,000 after purchasing an additional 4,850 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Graham by 47.5% during the first quarter. Wellington Management Group LLP now owns 54,960 shares of the industrial products company's stock worth $1,584,000 after purchasing an additional 17,693 shares in the last quarter. Hedge funds and other institutional investors 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.