Graham Corporation (NYSE:GHM) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Tuesday, November 7th will be paid a dividend of 0.09 per share by the industrial products company on Tuesday, November 21st. This represents a $0.36 dividend on an annualized basis and a yield of 1.65%.

Graham Corporation has increased its dividend payment by an average of 44.2% per year over the last three years and has increased its dividend every year for the last 4 years. Graham Corporation has a payout ratio of 138.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Graham Corporation to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 66.7%.

Shares of Graham Corporation (NYSE:GHM) traded up 1.91% during mid-day trading on Tuesday, reaching $21.85. The company had a trading volume of 37,668 shares. The company has a 50 day moving average price of $20.91 and a 200 day moving average price of $20.73. The company has a market capitalization of $213.43 million, a price-to-earnings ratio of 36.24 and a beta of 1.05. Graham Corporation has a one year low of $17.19 and a one year high of $25.00.

Graham Corporation (NYSE:GHM) last issued its earnings results on Friday, August 4th. The industrial products company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.01 by $0.09. Graham Corporation had a return on equity of 5.28% and a net margin of 6.51%. The business had revenue of $20.90 million for the quarter, compared to the consensus estimate of $17.89 million. During the same period last year, the business posted $0.05 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Graham Corporation will post $0.28 EPS for the current year.

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Separately, Zacks Investment Research downgraded Graham Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th.

An institutional investor recently raised its position in Graham Corporation stock. The Manufacturers Life Insurance Company lifted its position in Graham Corporation (NYSE:GHM) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,721 shares of the industrial products company’s stock after buying an additional 1,099 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of Graham Corporation worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 74.71% of the stock is currently owned by institutional investors.

Graham Corporation Company Profile

Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.

Dividend History for Graham Corporation (NYSE:GHM)

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