Graham Corporation (NYSE:GHM) Sees Large Drop in Short Interest

Graham Corporation (NYSE:GHM) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 345,173 shares, a decline of 24.3% from the January 29th total of 456,231 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 135,267 shares, the short-interest ratio is presently 2.6 days. Based on an average trading volume of 135,267 shares, the short-interest ratio is presently 2.6 days. Currently, 3.3% of the shares of the company are sold short.

Graham Trading Up 7.3%

Shares of NYSE:GHM traded up $5.90 during trading on Monday, hitting $87.12. 172,915 shares of the stock were exchanged, compared to its average volume of 112,508. The company has a market cap of $964.42 million, a PE ratio of 64.53 and a beta of 0.90. The company has a fifty day moving average price of $74.70 and a two-hundred day moving average price of $62.63. Graham has a 12-month low of $24.78 and a 12-month high of $91.91.

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

Hedge Funds Weigh In On Graham

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC purchased a new stake in shares of Graham in the third quarter valued at about $15,043,000. Royal Bank of Canada raised its position in shares of Graham by 7,833.6% during the 4th quarter. Royal Bank of Canada now owns 245,625 shares of the industrial products company’s stock worth $15,777,000 after purchasing an additional 242,529 shares during the last quarter. Agman Capital LLC purchased a new stake in Graham in the 4th quarter valued at approximately $14,079,000. Alyeska Investment Group L.P. purchased a new stake in Graham in the 3rd quarter valued at approximately $10,356,000. Finally, Invesco Ltd. grew its holdings in Graham by 1,993.3% during the 4th quarter. Invesco Ltd. now owns 135,879 shares of the industrial products company’s stock valued at $8,728,000 after buying an additional 129,388 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GHM. Northland Securities upgraded shares of Graham from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings downgraded Graham from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $72.50.

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.