Graham (NYSE:GHM) Trading Down 12.9% - Here's What Happened

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) fell 12.9% during trading on Tuesday . The stock traded as low as $49.67 and last traded at $50.05. 19,109 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 101,543 shares. The stock had previously closed at $57.43.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GHM shares. Maxim Group raised shares of Graham to a "buy" rating and set a $65.00 price objective for the company in a research report on Wednesday, July 2nd. Northland Securities started coverage on Graham in a research report on Monday, June 23rd. They set an "outperform" rating and a $55.00 price target on the stock. Finally, Northland Capmk raised shares of Graham to a "strong-buy" rating in a research note on Monday, June 23rd.

Graham Trading Down 0.1%

The firm's fifty day moving average price is $49.30 and its 200-day moving average price is $39.78. The company has a market cap of $538.35 million, a P/E ratio of 38.91 and a beta of 0.92.

Graham (NYSE:GHM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.20. Graham had a net margin of 6.43% and a return on equity of 13.05%. The company had revenue of $55.49 million during the quarter, compared to the consensus estimate of $55.53 million. As a group, research analysts forecast that Graham Corporation will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Auto Owners Insurance Co increased its position in shares of Graham by 4.8% during the second quarter. Auto Owners Insurance Co now owns 11,000 shares of the industrial products company's stock worth $545,000 after acquiring an additional 500 shares in the last quarter. Legal & General Group Plc boosted its stake in Graham by 26.0% in the 4th quarter. Legal & General Group Plc now owns 2,599 shares of the industrial products company's stock worth $116,000 after purchasing an additional 536 shares during the period. Algert Global LLC raised its holdings in shares of Graham by 7.4% in the 1st quarter. Algert Global LLC now owns 8,498 shares of the industrial products company's stock valued at $245,000 after acquiring an additional 588 shares in the last quarter. First Horizon Advisors Inc. raised its position in Graham by 130.5% during the second quarter. First Horizon Advisors Inc. now owns 1,178 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 667 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Graham by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 27,647 shares of the industrial products company's stock worth $797,000 after purchasing an additional 696 shares during the last quarter. 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.