Short Interest in Graham Co. (NYSE:GHM) Grows By 15.3%

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Graham Co. (NYSE:GHM) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 27,200 shares, an increase of 15.3% from the April 30th total of 23,600 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 18,300 shares, the short-interest ratio is currently 1.5 days.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Graham by 2.1% during the fourth quarter. BlackRock Inc. now owns 681,923 shares of the industrial products company’s stock valued at $15,574,000 after purchasing an additional 13,989 shares in the last quarter. Vanguard Group Inc. raised its position in Graham by 10.6% during the third quarter. Vanguard Group Inc. now owns 456,569 shares of the industrial products company’s stock valued at $12,861,000 after purchasing an additional 43,930 shares in the last quarter. Heritage Investors Management Corp bought a new stake in shares of Graham during the first quarter worth $303,000. Walthausen & Co. LLC grew its stake in shares of Graham by 5.7% during the fourth quarter. Walthausen & Co. LLC now owns 50,070 shares of the industrial products company’s stock worth $1,144,000 after buying an additional 2,720 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. grew its stake in shares of Graham by 23.1% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 719,272 shares of the industrial products company’s stock worth $16,428,000 after buying an additional 134,929 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

GHM has been the subject of a number of research analyst reports. Maxim Group restated a “buy” rating and set a $25.00 price objective on shares of Graham in a report on Friday, May 31st. Ascendiant Capital Markets assumed coverage on Graham in a report on Monday, April 22nd. They set a “buy” rating and a $1.59 price objective for the company.

GHM traded down $1.05 during trading on Wednesday, hitting $19.80. 22,100 shares of the stock traded hands, compared to its average volume of 17,848. Graham has a twelve month low of $18.96 and a twelve month high of $28.98. The company has a market cap of $203.65 million, a P/E ratio of 38.82 and a beta of 0.87.

Graham (NYSE:GHM) last announced its quarterly earnings data on Thursday, May 30th. The industrial products company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). Graham had a negative net margin of 0.34% and a positive return on equity of 4.85%. The firm had revenue of $23.64 million for the quarter. Equities analysts expect that Graham will post 0.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 2.02%. Graham’s dividend payout ratio is currently 78.43%.

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Graham Company Profile

Graham Corporation, together with its subsidiaries, designs, manufactures, and supplies vacuum and heat transfer equipment for the chemical, defense, petrochemical, petroleum refining, electric power generation, and other industries worldwide. It offers heat transfer equipment, including surface condensers, heliflows, water heaters, and various types of heat exchangers, as well as custom-engineered ejectors; and vacuum equipment, such as steam jet ejector vacuum systems and liquid ring vacuum pumps.

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