Graham (NYSE:GHM) Reaches New 12-Month High – Should You Buy?

Graham Co. (NYSE:GHM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $46.23 and last traded at $46.09, with a volume of 9796 shares trading hands. The stock had previously closed at $45.51.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Graham Trading Up 0.1 %

The firm has a market capitalization of $496.04 million, a PE ratio of 64.10 and a beta of 0.73. The firm has a 50 day simple moving average of $37.22 and a 200 day simple moving average of $32.20.

Graham (NYSE:GHM) last issued its quarterly earnings data on Friday, November 8th. The industrial products company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.18 by $0.13. The company had revenue of $53.56 million during the quarter, compared to analyst estimates of $50.50 million. Graham had a return on equity of 7.91% and a net margin of 3.95%. During the same quarter in the previous year, the company posted $0.04 earnings per share. Research analysts forecast that Graham Co. will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On Graham

Several large investors have recently bought and sold shares of GHM. Wellington Management Group LLP bought a new position in Graham during the 3rd quarter valued at about $1,103,000. Acadian Asset Management LLC lifted its position in shares of Graham by 21.4% during the second quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock worth $5,858,000 after purchasing an additional 36,724 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Graham during the second quarter valued at $904,000. State Street Corp increased its stake in Graham by 22.6% in the 3rd quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock worth $4,693,000 after buying an additional 29,277 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Graham during the 2nd quarter valued at about $635,000. Institutional investors own 69.46% of the company’s stock.

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.