Graham (NYSE:GHM) Sets New 1-Year High – Should You Buy?

Graham Co. (NYSE:GHM) shares reached a new 52-week high on Thursday . The company traded as high as $51.16 and last traded at $49.76, with a volume of 232351 shares. The stock had previously closed at $46.90.

Graham Price Performance

The stock has a market cap of $541.89 million, a price-to-earnings ratio of 70.08 and a beta of 0.71. The stock’s 50 day simple moving average is $44.39 and its two-hundred day simple moving average is $36.27.

Graham (NYSE:GHM) last posted its earnings results on Friday, November 8th. The industrial products company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. The business had revenue of $53.56 million for the quarter, compared to analysts’ expectations of $50.50 million. Graham had a net margin of 3.95% and a return on equity of 7.91%. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, analysts predict that Graham Co. will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Graham

Several hedge funds and other institutional investors have recently modified their holdings of GHM. State Street Corp lifted its holdings in shares of Graham by 22.6% during the third quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock valued at $4,693,000 after acquiring an additional 29,277 shares during the period. Wellington Management Group LLP bought a new position in Graham during the 3rd quarter valued at about $1,103,000. JPMorgan Chase & Co. boosted its position in Graham by 285.3% in the third quarter. JPMorgan Chase & Co. now owns 38,980 shares of the industrial products company’s stock valued at $1,153,000 after buying an additional 28,863 shares in the last quarter. Barclays PLC grew its stake in Graham by 36.5% during the third quarter. Barclays PLC now owns 15,498 shares of the industrial products company’s stock worth $458,000 after buying an additional 4,145 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Graham by 85.5% during the second quarter. Cubist Systematic Strategies LLC now owns 10,439 shares of the industrial products company’s stock worth $294,000 after buying an additional 4,811 shares in the last quarter. Institutional investors own 69.46% of the company’s stock.

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.