Graham (NYSE:GHM) Sets New 12-Month High – Still a Buy?

Graham Co. (NYSE:GHM)’s share price hit a new 52-week high on Tuesday . The company traded as high as $46.23 and last traded at $46.09, with a volume of 9796 shares traded. The stock had previously closed at $45.51.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th.

Graham Trading Down 8.9 %

The firm has a market capitalization of $447.03 million, a price-to-earnings ratio of 57.82 and a beta of 0.73. The stock’s 50-day moving average is $37.75 and its 200-day moving average is $32.39.

Graham (NYSE:GHM) last released its earnings results on Friday, November 8th. The industrial products company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.18 by $0.13. The business had revenue of $53.56 million during the quarter, compared to analysts’ expectations of $50.50 million. Graham had a return on equity of 7.91% and a net margin of 3.95%. During the same quarter last year, the firm posted $0.04 earnings per share. On average, equities research analysts anticipate that Graham Co. will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Graham

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Graham during the second quarter worth about $31,000. nVerses Capital LLC purchased a new stake in shares of Graham in the 2nd quarter worth about $37,000. SG Americas Securities LLC purchased a new position in Graham during the third quarter valued at $112,000. BNP Paribas Financial Markets boosted its position in shares of Graham by 36.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,096 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 1,374 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Graham by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 6,012 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 3,388 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

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.