Short Interest in Graham Co. (NYSE:GHM) Increases By 18.8%

Graham Co. (NYSE:GHM) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 267,600 shares, an increase of 18.8% from the August 15th total of 225,300 shares. Based on an average trading volume of 86,200 shares, the days-to-cover ratio is currently 3.1 days.

Graham Stock Up 1.0 %

NYSE GHM traded up $0.30 on Tuesday, reaching $29.58. The company had a trading volume of 30,102 shares, compared to its average volume of 77,675. Graham has a 52 week low of $14.78 and a 52 week high of $34.72. The stock has a market cap of $321.56 million, a price-to-earnings ratio of 68.79 and a beta of 0.56. The stock’s 50 day moving average is $30.05 and its 200-day moving average is $28.67.

Graham (NYSE:GHM) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The company had revenue of $49.95 million during the quarter, compared to analysts’ expectations of $50.00 million. Graham had a return on equity of 5.26% and a net margin of 2.60%. During the same period in the prior year, the business posted $0.25 EPS. As a group, analysts forecast that Graham will post 0.95 EPS for the current year.

Institutional Trading of Graham

Several hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. increased its position in shares of Graham by 1,640.8% during the first quarter. Hillsdale Investment Management Inc. now owns 147,972 shares of the industrial products company’s stock worth $4,037,000 after acquiring an additional 139,472 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Graham in the 1st quarter valued at about $1,118,000. Acadian Asset Management LLC lifted its holdings in shares of Graham by 21.4% in the second quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock valued at $5,858,000 after purchasing an additional 36,724 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Graham during the second quarter worth about $904,000. Finally, Wasatch Advisors LP boosted its position in shares of Graham by 7.4% during the first quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock worth $9,841,000 after buying an additional 24,961 shares during the period. Institutional investors and hedge funds own 69.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com raised shares of Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Noble Financial began coverage on Graham in a research note on Monday, June 24th. They issued an “outperform” rating and a $35.00 target price for the company.

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.