Graham (NYSE:GHM) Shares Gap Up – Here’s Why

Shares of Graham Co. (NYSE:GHM) gapped up prior to trading on Wednesday . The stock had previously closed at $46.90, but opened at $48.65. Graham shares last traded at $50.57, with a volume of 6,139 shares changing hands.

Graham Price Performance

The firm has a market cap of $551.69 million, a PE ratio of 71.47 and a beta of 0.71. The business has a 50-day moving average price of $44.27 and a two-hundred day moving average price of $36.18.

Graham (NYSE:GHM) last announced its quarterly 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 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 business posted $0.04 earnings per share. Equities analysts expect that Graham Co. will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of Graham

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Graham by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 233,122 shares of the industrial products company’s stock worth $6,900,000 after purchasing an additional 2,952 shares in the last quarter. Essex Investment Management Co. LLC increased its position in Graham by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 190,253 shares of the industrial products company’s stock worth $5,630,000 after purchasing an additional 620 shares in the last quarter. State Street Corp increased its position in Graham by 22.6% during the 3rd quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock worth $4,693,000 after purchasing an additional 29,277 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Graham by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,966 shares of the industrial products company’s stock worth $1,893,000 after purchasing an additional 9,466 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Graham by 285.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,980 shares of the industrial products company’s stock worth $1,153,000 after purchasing an additional 28,863 shares in the last quarter. Hedge funds and other 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.