Graham (NYSE:GHM) Trading Down 5.7% – Here’s What Happened

Graham Corporation (NYSE:GHM)’s stock price fell 5.7% during mid-day trading on Tuesday . The company traded as low as $81.97 and last traded at $82.2520. Approximately 21,897 shares changed hands during trading, a decline of 88% from the average daily volume of 185,543 shares. The stock had previously closed at $87.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GHM shares. Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Oppenheimer lifted their price objective on Graham to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Northland Securities lifted their target price on shares of Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Weiss Ratings downgraded shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Finally, Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.50.

Graham Price Performance

The stock has a 50-day moving average price of $105.21 and a 200-day moving average price of $96.70. The firm has a market capitalization of $980.98 million, a PE ratio of 80.37 and a beta of 1.05.

Graham (NYSE:GHM) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. Graham had a return on equity of 11.09% and a net margin of 4.53%.The firm had revenue of $71.34 million during the quarter, compared to analyst estimates of $65.60 million. During the same period in the previous year, the company earned $0.45 earnings per share. Graham’s quarterly revenue was up 28.6% on a year-over-year basis. As a group, equities research analysts predict that Graham Corporation will post 1.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP boosted its stake in Graham by 9.5% during the second quarter. Corient Private Wealth LP now owns 2,863 shares of the industrial products company’s stock valued at $354,000 after buying an additional 249 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Graham by 249,920.6% in the 2nd quarter. California State Teachers Retirement System now owns 1,407,616 shares of the industrial products company’s stock valued at $174,249,000 after purchasing an additional 1,407,053 shares during the period. Angeles Wealth Management LLC acquired a new position in shares of Graham in the second quarter worth about $249,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Graham in the 2nd quarter valued at approximately $558,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Graham during the 2nd quarter worth approximately $336,000. 69.46% of the stock is currently owned by institutional investors.

About Graham

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.