Graham (NYSE:GHM) Trading 5.6% Higher After Earnings Beat

Graham Co. (NYSE:GHM - Get Free Report) shares were up 5.6% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $46.44 and last traded at $47.15. Approximately 32,125 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 82,485 shares. The stock had previously closed at $44.66.

The industrial products company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. The company had revenue of $59.35 million during the quarter, compared to analyst estimates of $55.67 million. Graham had a return on equity of 9.35% and a net margin of 4.60%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Graham from a "buy" rating to a "hold" rating in a report on Thursday, February 27th.

Hedge Funds Weigh In On Graham

A number of institutional investors have recently made changes to their positions in GHM. Rhumbline Advisers lifted its holdings in shares of Graham by 6.7% in the 4th quarter. Rhumbline Advisers now owns 10,397 shares of the industrial products company's stock worth $462,000 after acquiring an additional 654 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Graham by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 9,941 shares of the industrial products company's stock valued at $442,000 after acquiring an additional 960 shares in the last quarter. Navellier & Associates Inc. increased its position in shares of Graham by 143.8% during the fourth quarter. Navellier & Associates Inc. now owns 26,893 shares of the industrial products company's stock valued at $1,196,000 after buying an additional 15,863 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Graham by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 26,951 shares of the industrial products company's stock worth $1,199,000 after acquiring an additional 2,414 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in Graham by 121.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 18,805 shares of the industrial products company's stock worth $836,000 after purchasing an additional 10,314 shares in the last quarter. Institutional investors own 69.46% of the company's stock.

Graham Trading Down 0.5%

The company's 50 day moving average is $34.33 and its 200-day moving average is $37.72. The company has a market capitalization of $504.43 million, a P/E ratio of 55.69 and a beta of 0.85.

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.