Graham Co. (NYSE:GHM) declared a quarterly dividend on Wednesday, January 31st, RTT News reports. Shareholders of record on Wednesday, February 14th will be given a dividend of 0.09 per share by the industrial products company on Wednesday, February 28th. This represents a $0.36 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, February 13th.
Graham has raised its dividend by an average of 31.0% annually over the last three years. Graham has a payout ratio of 138.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Graham (NYSE:GHM) opened at $21.09 on Thursday. The firm has a market cap of $210.11, a PE ratio of 71.70 and a beta of 0.89. Graham has a fifty-two week low of $17.97 and a fifty-two week high of $24.34.
Separately, Zacks Investment Research downgraded shares of Graham from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th.
A hedge fund recently raised its stake in Graham stock. The Manufacturers Life Insurance Company grew its stake in Graham Co. (NYSE:GHM) by 12.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,721 shares of the industrial products company’s stock after acquiring an additional 1,099 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Graham worth $192,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 75.49% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/08/graham-co-ghm-to-issue-quarterly-dividend-of-0-09-on-february-28th.html.
Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.
Receive News & Ratings for Graham Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graham and related companies with MarketBeat.com's FREE daily email newsletter.