Sanctuary Advisors LLC purchased a new stake in shares of Graham Corporation (NYSE:GHM – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,825 shares of the industrial products company’s stock, valued at approximately $1,092,000. Sanctuary Advisors LLC owned approximately 0.08% of Graham at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Graham in the second quarter worth $110,235,000. Auto Owners Insurance Co increased its holdings in Graham by 6,323.0% in the 4th quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock valued at $4,538,000 after acquiring an additional 695,530 shares during the last quarter. Vanguard Group Inc. increased its holdings in Graham by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 602,448 shares of the industrial products company’s stock valued at $33,074,000 after acquiring an additional 12,974 shares during the last quarter. Royce & Associates LP lifted its stake in Graham by 2.7% in the 4th quarter. Royce & Associates LP now owns 472,207 shares of the industrial products company’s stock worth $30,330,000 after purchasing an additional 12,509 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Graham in the 2nd quarter worth $45,159,000. 69.46% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on GHM shares. Northland Securities increased their price target on Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Weiss Ratings raised Graham from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Oppenheimer upped their price objective on Graham to $130.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Wall Street Zen upgraded Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research lowered shares of Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $132.50.
Graham Stock Performance
GHM opened at $93.62 on Friday. The stock’s 50 day moving average price is $107.26 and its 200-day moving average price is $96.74. Graham Corporation has a one year low of $46.58 and a one year high of $125.82. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 90.02 and a beta of 1.04.
Graham (NYSE:GHM – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $71.34 million during the quarter, compared to analyst estimates of $65.60 million. Graham had a return on equity of 11.09% and a net margin of 4.53%.Graham’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. As a group, analysts predict that Graham Corporation will post 1.87 earnings per share for the current fiscal year.
Graham Company Profile
Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.
The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.
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