Graham (NYSE:GHM) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Graham Co. (NYSE:GHM) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.46 and traded as high as $44.25. Graham shares last traded at $44.00, with a volume of 49,921 shares traded.

Graham Price Performance

The firm has a 50-day simple moving average of $43.34 and a 200 day simple moving average of $34.59. The stock has a market capitalization of $486.27 million, a P/E ratio of 62.89 and a beta of 0.73.

Graham (NYSE:GHM) last announced its earnings results on Friday, November 8th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.13. Graham had a return on equity of 7.91% and a net margin of 3.95%. The business had revenue of $53.56 million during the quarter, compared to analyst estimates of $50.50 million. During the same period last year, the company earned $0.04 EPS. Sell-side analysts anticipate that Graham Co. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ellsworth Advisors LLC grew its stake in Graham by 1.0% in the third quarter. Ellsworth Advisors LLC now owns 31,684 shares of the industrial products company’s stock valued at $938,000 after acquiring an additional 320 shares during the period. XTX Topco Ltd lifted its stake in shares of Graham by 5.7% in the third quarter. XTX Topco Ltd now owns 9,551 shares of the industrial products company’s stock valued at $283,000 after buying an additional 513 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of Graham by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 190,253 shares of the industrial products company’s stock valued at $5,630,000 after buying an additional 620 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Graham by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 29,265 shares of the industrial products company’s stock worth $866,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Graham in the 2nd quarter valued at about $31,000. 69.46% of the stock is owned by institutional investors and hedge funds.

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.