Graham (NYSE:GHM) Shares Gap Up – Here’s Why

Graham Co. (NYSE:GHM) gapped up before the market opened on Wednesday . The stock had previously closed at $46.90, but opened at $48.65. Graham shares last traded at $50.57, with a volume of 6,139 shares.

Graham Stock Up 8.0 %

The company has a fifty day moving average of $44.27 and a two-hundred day moving average of $36.18. The stock has a market capitalization of $551.69 million, a price-to-earnings ratio of 71.47 and a beta of 0.71.

Graham (NYSE:GHM) last released its earnings results on Friday, November 8th. The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Graham had a return on equity of 7.91% and a net margin of 3.95%. The company had revenue of $53.56 million during the quarter, compared to the consensus estimate of $50.50 million. During the same quarter last year, the company earned $0.04 earnings per share. Equities analysts anticipate that Graham Co. will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

A number of hedge funds and other institutional investors have recently bought and sold shares of GHM. Sei Investments Co. acquired a new stake in Graham in the second quarter valued at $447,000. Bank of Montreal Can acquired a new stake in Graham in the second quarter valued at $367,000. Sanctuary Advisors LLC acquired a new stake in Graham in the second quarter valued at $635,000. Cubist Systematic Strategies LLC increased its position in shares of Graham by 85.5% in the second quarter. Cubist Systematic Strategies LLC now owns 10,439 shares of the industrial products company’s stock valued at $294,000 after buying an additional 4,811 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Graham in the third quarter valued at $112,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

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.