Graham Co. (NYSE:GHM) announced a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Stockholders of record on Wednesday, August 21st will be paid a dividend of 0.11 per share by the industrial products company on Wednesday, September 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, August 20th. This is an increase from Graham’s previous quarterly dividend of $0.10.
Graham has raised its dividend payment by an average of 5.9% annually over the last three years. Graham has a payout ratio of 169.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Graham to earn $0.96 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 45.8%.
Shares of Graham stock opened at $19.48 on Friday. The company has a 50 day moving average of $20.26 and a 200-day moving average of $20.78. Graham has a 1-year low of $18.62 and a 1-year high of $28.98. The company has a market cap of $191.29 million, a PE ratio of 50.95 and a beta of 0.76.
Graham (NYSE:GHM) last issued its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.05. Graham had a negative net margin of 3.08% and a positive return on equity of 3.61%. The company had revenue of $20.59 million during the quarter, compared to the consensus estimate of $19.19 million. As a group, equities analysts predict that Graham will post 0.79 earnings per share for the current year.
A number of brokerages have recently weighed in on GHM. ValuEngine downgraded shares of Graham from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Ascendiant Capital Markets initiated coverage on shares of Graham in a research note on Monday, April 22nd. They issued a “buy” rating and a $1.59 price objective for the company. Maxim Group reissued a “buy” rating and issued a $25.00 price objective on shares of Graham in a research note on Friday, July 26th. Finally, Zacks Investment Research raised shares of Graham from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.53.
Graham Corporation, together with its subsidiaries, designs, manufactures, and supplies vacuum and heat transfer equipment for the chemical, defense, petrochemical, petroleum refining, electric power generation, and other industries worldwide. It offers heat transfer equipment, including surface condensers, heliflows, water heaters, and various types of heat exchangers, as well as custom-engineered ejectors; and vacuum equipment, such as steam jet ejector vacuum systems and liquid ring vacuum pumps.
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