Graham (NYSE:GHM) Reaches New 1-Year High – Here’s What Happened

Graham Corporation (NYSE:GHM) reached a new 52-week high during trading on Friday . The company traded as high as $110.01 and last traded at $106.8720, with a volume of 87260 shares trading hands. The stock had previously closed at $107.96.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GHM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Graham in a research note on Wednesday, May 20th. Zacks Research upgraded shares of Graham from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Northland Securities upgraded shares of Graham from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Finally, Oppenheimer started coverage on shares of Graham in a research note on Wednesday, March 18th. They set an “outperform” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.67.

Graham Stock Performance

The firm has a market capitalization of $1.25 billion, a P/E ratio of 79.12 and a beta of 1.04. The firm has a 50 day moving average price of $93.65 and a two-hundred day moving average price of $79.67.

Hedge Funds Weigh In On Graham

Several institutional investors and hedge funds have recently added to or reduced their stakes in GHM. Rhumbline Advisers grew its position in Graham by 40.6% during the 2nd quarter. Rhumbline Advisers now owns 14,755 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 4,257 shares in the last quarter. Quantbot Technologies LP purchased a new position in Graham during the 2nd quarter worth approximately $325,000. Arrowstreet Capital Limited Partnership purchased a new position in Graham during the 2nd quarter worth approximately $226,000. Invesco Ltd. grew its position in Graham by 1,396.0% during the 2nd quarter. Invesco Ltd. now owns 115,893 shares of the industrial products company’s stock worth $5,738,000 after purchasing an additional 108,146 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Graham during the 2nd quarter worth approximately $783,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Graham Company Profile

Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.

The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.