Graham (NYSE:GHM) Sets New 12-Month High – Here’s Why

Graham Corporation (NYSE:GHM) hit a new 52-week high on Wednesday . The stock traded as high as $101.72 and last traded at $98.8150, with a volume of 9033 shares. The stock had previously closed at $99.12.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer began coverage on shares of Graham in a research report on Wednesday, March 18th. They set an “outperform” rating and a $100.00 price objective for the company. Northland Securities raised shares of Graham from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Weiss Ratings downgraded shares of Graham from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, February 20th. Finally, Zacks Research upgraded Graham from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.67.

Graham Stock Up 1.6%

The stock’s fifty day simple moving average is $87.95 and its 200-day simple moving average is $74.97. The company has a market capitalization of $1.18 billion, a PE ratio of 74.26 and a beta of 1.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AdvisorShares Investments LLC boosted its position in shares of Graham by 7.9% in the fourth quarter. AdvisorShares Investments LLC now owns 3,238 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 238 shares during the last quarter. Raymond James Financial Inc. increased its position in Graham by 1.5% during the third quarter. Raymond James Financial Inc. now owns 21,608 shares of the industrial products company’s stock worth $1,186,000 after purchasing an additional 319 shares during the last quarter. Diversified Trust Co raised its stake in Graham by 8.3% during the first quarter. Diversified Trust Co now owns 4,267 shares of the industrial products company’s stock worth $337,000 after purchasing an additional 326 shares during the period. Barclays PLC boosted its holdings in shares of Graham by 2.2% in the 4th quarter. Barclays PLC now owns 16,212 shares of the industrial products company’s stock valued at $1,041,000 after purchasing an additional 350 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Graham by 6.4% during the 4th quarter. AQR Capital Management LLC now owns 5,862 shares of the industrial products company’s stock worth $377,000 after buying an additional 355 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

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.