Graham Co. (NYSE:GHM) Sees Significant Decline in Short Interest

Graham Co. (NYSE:GHM) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 191,200 shares, a decrease of 11.2% from the October 15th total of 215,200 shares. Based on an average trading volume of 39,800 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Investors Weigh In On Graham

A number of hedge funds have recently modified their holdings of GHM. Ellsworth Advisors LLC grew its position in Graham by 1.0% in the third quarter. Ellsworth Advisors LLC now owns 31,684 shares of the industrial products company’s stock worth $938,000 after acquiring an additional 320 shares during the period. XTX Topco Ltd increased its holdings in shares of Graham by 5.7% in the 3rd quarter. XTX Topco Ltd now owns 9,551 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 513 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in Graham by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 190,253 shares of the industrial products company’s stock valued at $5,630,000 after purchasing an additional 620 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Graham by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 29,265 shares of the industrial products company’s stock valued at $866,000 after buying an additional 1,065 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Graham during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Graham Stock Performance

Shares of NYSE:GHM traded down $0.34 during midday trading on Friday, reaching $40.25. 93,660 shares of the company’s stock traded hands, compared to its average volume of 56,278. The company has a fifty day simple moving average of $31.15 and a two-hundred day simple moving average of $29.94. Graham has a 1 year low of $17.02 and a 1 year high of $42.65. The company has a market cap of $438.32 million, a P/E ratio of 56.69 and a beta of 0.56.

Graham (NYSE:GHM) last posted its quarterly earnings data on Friday, November 8th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.18 by $0.13. The firm had revenue of $53.56 million during the quarter, compared to the consensus estimate of $50.50 million. Graham had a return on equity of 7.91% and a net margin of 3.95%. During the same period in the prior year, the company earned $0.04 EPS. As a group, research analysts forecast that Graham will post 1.03 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Graham Company Profile

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.