Oxford Asset Management LLP raised its stake in shares of Graham Co. (NYSE:GHM) by 27.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,398 shares of the industrial products company’s stock after purchasing an additional 6,889 shares during the quarter. Oxford Asset Management LLP owned about 0.33% of Graham worth $709,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC increased its stake in Graham by 17.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 160,639 shares of the industrial products company’s stock valued at $3,515,000 after purchasing an additional 24,050 shares in the last quarter. Renaissance Technologies LLC increased its stake in Graham by 2.0% during the 4th quarter. Renaissance Technologies LLC now owns 479,396 shares of the industrial products company’s stock valued at $10,489,000 after purchasing an additional 9,417 shares in the last quarter. Citigroup Inc. increased its stake in Graham by 57.2% during the 4th quarter. Citigroup Inc. now owns 2,078 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 756 shares in the last quarter. Barclays PLC increased its stake in Graham by 97.8% during the 4th quarter. Barclays PLC now owns 9,753 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 4,822 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in Graham during the 4th quarter valued at approximately $212,000. Institutional investors and hedge funds own 78.11% of the company’s stock.
In other news, CEO James R. Lines purchased 12,357 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $18.17 per share, with a total value of $224,526.69. Following the completion of the acquisition, the chief executive officer now owns 129,934 shares of the company’s stock, valued at approximately $2,360,900.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James R. Lines purchased 2,500 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were purchased at an average cost of $15.83 per share, for a total transaction of $39,575.00. Insiders have purchased 21,713 shares of company stock worth $386,940 over the last three months. 3.71% of the stock is currently owned by insiders.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of Graham from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Zacks Investment Research downgraded shares of Graham from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Graham in a report on Thursday.
Shares of GHM stock traded down $0.03 during trading hours on Thursday, hitting $14.33. The company’s stock had a trading volume of 12,444 shares, compared to its average volume of 55,646. The company has a 50 day moving average of $16.01 and a 200 day moving average of $19.72. The stock has a market cap of $151.93 million, a PE ratio of -43.60 and a beta of 0.66. Graham Co. has a 12-month low of $11.06 and a 12-month high of $23.77.
Graham (NYSE:GHM) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.25). The business had revenue of $25.29 million during the quarter, compared to analysts’ expectations of $28.36 million. Graham had a negative net margin of 3.57% and a positive return on equity of 3.01%. Research analysts expect that Graham Co. will post 0.5 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Monday, February 10th. Graham’s dividend payout ratio (DPR) is presently 86.27%.
Graham Company Profile
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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