Graham (NYSE:GHM) Sets New 1-Year High - Here's Why

Graham Corporation (NYSE:GHM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.65 and last traded at $54.47, with a volume of 91772 shares. The stock had previously closed at $53.04.

Analyst Upgrades and Downgrades

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

Graham Stock Up 1.3%

The stock has a market capitalization of $601.48 million, a price-to-earnings ratio of 49.35 and a beta of 0.90. The business has a 50-day simple moving average of $46.36 and a two-hundred day simple moving average of $39.10.

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

Institutional Trading of Graham

Several hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in Graham in the 4th quarter worth about $31,000. New York State Teachers Retirement System boosted its holdings in shares of Graham by 839.0% during the first quarter. New York State Teachers Retirement System now owns 939 shares of the industrial products company's stock worth $27,000 after purchasing an additional 839 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Graham during the first quarter worth approximately $29,000. Russell Investments Group Ltd. boosted its stake in shares of Graham by 18,025.0% during the 4th quarter. Russell Investments Group Ltd. now owns 1,450 shares of the industrial products company's stock valued at $64,000 after buying an additional 1,442 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Graham by 26.0% in the fourth quarter. Legal & General Group Plc now owns 2,599 shares of the industrial products company's stock worth $116,000 after acquiring an additional 536 shares during the last quarter. Institutional investors and hedge funds 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.