Graham Corporation (NYSE:GHM) Short Interest Down 13.6% in March

Graham Corporation (NYSE:GHM) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 307,422 shares, a decrease of 13.6% from the March 15th total of 355,787 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily volume of 130,225 shares, the days-to-cover ratio is presently 2.4 days.

Graham Price Performance

NYSE:GHM traded up $5.60 during mid-day trading on Friday, reaching $96.57. The stock had a trading volume of 76,573 shares, compared to its average volume of 119,594. The business’s 50 day moving average is $83.88 and its 200 day moving average is $70.56. Graham has a fifty-two week low of $28.49 and a fifty-two week high of $96.92. The stock has a market cap of $1.07 billion, a P/E ratio of 71.53 and a beta of 0.95.

Graham (NYSE:GHM) last released its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. Graham had a return on equity of 13.26% and a net margin of 6.28%.The firm had revenue of $56.70 million for the quarter, compared to the consensus estimate of $52.36 million. Equities analysts expect that Graham will post 1.07 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GHM shares. Northland Securities raised shares of Graham from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Oppenheimer started coverage on shares of Graham in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $100.00 price target for the company. Weiss Ratings lowered shares of Graham from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, February 20th. Finally, Zacks Research raised shares of Graham from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Graham presently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Institutional Trading of Graham

A number of institutional investors and hedge funds have recently modified their holdings of GHM. Rhumbline Advisers lifted its stake in shares of Graham by 40.6% in the second quarter. Rhumbline Advisers now owns 14,755 shares of the industrial products company’s stock worth $731,000 after buying an additional 4,257 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Graham in the second quarter worth $325,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Graham in the second quarter worth $226,000. Invesco Ltd. lifted its stake in shares of Graham by 1,396.0% in the second quarter. Invesco Ltd. now owns 115,893 shares of the industrial products company’s stock worth $5,738,000 after buying an additional 108,146 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Graham in the second quarter worth $783,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Graham Company Profile

Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.

The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.