Graham (NYSE:GHM) Shares Cross Above 200 Day Moving Average of $20.71

Graham Co. (NYSE:GHM) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.71 and traded as high as $29.55. Graham shares last traded at $29.54, with a volume of 74,714 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Graham from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th.

Graham Stock Up 1.6 %

The stock has a market cap of $319.92 million, a PE ratio of 113.62 and a beta of 0.60. The business has a 50 day moving average price of $25.66 and a 200 day moving average price of $20.71.

Graham (NYSE:GHM) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06. Graham had a net margin of 1.52% and a return on equity of 2.73%. The firm had revenue of $43.82 million for the quarter, compared to analyst estimates of $37.88 million. During the same period last year, the company posted $0.03 EPS.

Institutional Investors Weigh In On Graham

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brandes Investment Partners LP boosted its stake in shares of Graham by 3.1% in the third quarter. Brandes Investment Partners LP now owns 1,190,346 shares of the industrial products company’s stock valued at $19,760,000 after purchasing an additional 35,407 shares during the period. Royce & Associates LP raised its stake in Graham by 3.4% in the first quarter. Royce & Associates LP now owns 599,240 shares of the industrial products company’s stock valued at $7,838,000 after buying an additional 19,600 shares in the last quarter. Wasatch Advisors LP lifted its stake in Graham by 44.8% during the first quarter. Wasatch Advisors LP now owns 483,055 shares of the industrial products company’s stock worth $6,318,000 after purchasing an additional 149,475 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Graham by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 438,193 shares of the industrial products company’s stock valued at $8,313,000 after buying an additional 19,193 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Graham by 15.4% during the second quarter. Renaissance Technologies LLC now owns 340,304 shares of the industrial products company’s stock worth $4,519,000 after purchasing an additional 45,536 shares in the last quarter. 69.46% of the stock is owned by hedge funds and other 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.