Graham (NYSE:GHM) Share Price Crosses Above Two Hundred Day Moving Average of $28.30

Graham Co. (NYSE:GHM - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.30 and traded as high as $31.87. Graham shares last traded at $31.84, with a volume of 31,500 shares changing hands.

Analyst Ratings Changes

Several analysts have recently issued reports on GHM shares. StockNews.com cut shares of Graham from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Noble Financial initiated coverage on Graham in a research report on Monday, June 24th. They set an "outperform" rating and a $35.00 price objective on the stock.

Graham Trading Down 7.2 %

The firm has a market capitalization of $321.35 million, a P/E ratio of 67.91 and a beta of 0.59. The stock has a 50-day simple moving average of $29.92 and a two-hundred day simple moving average of $28.30.

Graham (NYSE:GHM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.18 by $0.15. The business had revenue of $49.95 million during the quarter, compared to analyst estimates of $50.00 million. Graham had a net margin of 2.60% and a return on equity of 5.26%. During the same quarter in the previous year, the business posted $0.25 EPS. As a group, research analysts expect that Graham Co. will post 0.95 EPS for the current year.

Hedge Funds Weigh In On Graham

Several institutional investors and hedge funds have recently bought and sold shares of GHM. Itau Unibanco Holding S.A. acquired a new stake in shares of Graham during the second quarter worth $31,000. nVerses Capital LLC acquired a new position in shares of Graham in the second quarter valued at about $37,000. Lazard Asset Management LLC increased its holdings in shares of Graham by 8,163.5% in the first quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 4,245 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Graham in the fourth quarter worth about $148,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Graham during the fourth quarter worth about $161,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

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.