Graham (NYSE:GHM) Trading Down 12.9% - What's Next?

Key Points

• Graham Corporation (NYSE:GHM) saw a significant stock decline, dropping 12.9% during mid-day trading, with current trading prices around $50.05 after closing at $57.43.
• Analyst ratings have varied, with Maxim Group upgrading Graham to a "buy" rating and setting a price target of $65.00, while others have also given favorable ratings with targets between $55.00 and $65.00.
• Institutional investors hold a significant stake in Graham, with recent increases in holdings, including a major 839% boost from the New York State Teachers Retirement System.

Graham Corporation (NYSE:GHM - Get Free Report) shares dropped 12.9% during mid-day trading on Tuesday . The stock traded as low as $49.67 and last traded at $50.05. Approximately 19,109 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 101,543 shares. The stock had previously closed at $57.43.

Analyst Upgrades and Downgrades

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

Graham Stock Performance

The stock has a market capitalization of $530.33 million, a price-to-earnings ratio of 38.33 and a beta of 0.92. The company has a fifty day simple moving average of $49.67 and a two-hundred day simple moving average of $39.78.

Graham (NYSE:GHM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.20. The firm had revenue of $55.49 million during the quarter, compared to analysts' expectations of $55.53 million. Graham had a return on equity of 12.83% and a net margin of 6.43%. As a group, equities analysts anticipate that Graham Corporation will post 1.07 earnings per share for the current year.

Hedge Funds Weigh In On Graham

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Graham by 15.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,371 shares of the industrial products company's stock worth $117,000 after buying an additional 310 shares in the last quarter. Auto Owners Insurance Co lifted its position in shares of Graham by 4.8% during the 2nd quarter. Auto Owners Insurance Co now owns 11,000 shares of the industrial products company's stock worth $545,000 after buying an additional 500 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Graham by 26.0% during the 4th quarter. Legal & General Group Plc now owns 2,599 shares of the industrial products company's stock worth $116,000 after buying an additional 536 shares during the last quarter. Algert Global LLC lifted its position in shares of Graham by 7.4% during the 1st quarter. Algert Global LLC now owns 8,498 shares of the industrial products company's stock worth $245,000 after buying an additional 588 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Graham by 130.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,178 shares of the industrial products company's stock worth $58,000 after buying an additional 667 shares during the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

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.