Graham Co. (NYSE:GHM) Short Interest Down 7.4% in September

Graham Co. (NYSE:GHM) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 247,800 shares, a decline of 7.4% from the August 31st total of 267,600 shares. Based on an average daily trading volume, of 82,600 shares, the short-interest ratio is currently 3.0 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Noble Financial initiated coverage on Graham in a research report on Monday, June 24th. They set an “outperform” rating and a $35.00 price target on the stock.

Hedge Funds Weigh In On Graham

Several institutional investors and hedge funds have recently made changes to their positions in GHM. Cubist Systematic Strategies LLC boosted its stake in Graham by 85.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,439 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 4,811 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Graham in the second quarter valued at about $635,000. Bank of Montreal Can acquired a new position in shares of Graham in the second quarter valued at about $367,000. Itau Unibanco Holding S.A. bought a new position in Graham during the second quarter worth about $31,000. Finally, Sei Investments Co. bought a new stake in Graham in the 2nd quarter valued at about $447,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Graham Price Performance

Graham stock traded down $0.31 during mid-day trading on Tuesday, hitting $29.28. 25,914 shares of the company’s stock traded hands, compared to its average volume of 75,505. The firm has a 50 day simple moving average of $30.07 and a two-hundred day simple moving average of $29.07. Graham has a fifty-two week low of $15.01 and a fifty-two week high of $34.72. The stock has a market cap of $318.30 million, a price-to-earnings ratio of 68.63 and a beta of 0.56.

Graham (NYSE:GHM) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. Graham had a net margin of 2.60% and a return on equity of 5.26%. The company had revenue of $49.95 million during the quarter, compared to analysts’ expectations of $50.00 million. During the same quarter last year, the company posted $0.25 EPS. On average, research analysts anticipate that Graham will post 0.95 earnings per share for the current fiscal year.

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.