Wedge Capital Management L L P NC decreased its position in Graham Co. (NYSE:GHM) by 18.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,248 shares of the industrial products company’s stock after selling 10,423 shares during the period. Wedge Capital Management L L P NC owned about 0.48% of Graham worth $955,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deprince Race & Zollo Inc. grew its position in shares of Graham by 0.8% in the first quarter. Deprince Race & Zollo Inc. now owns 575,044 shares of the industrial products company’s stock valued at $11,288,000 after purchasing an additional 4,645 shares during the period. American Capital Management Inc. grew its position in shares of Graham by 6.2% in the first quarter. American Capital Management Inc. now owns 311,998 shares of the industrial products company’s stock valued at $6,125,000 after purchasing an additional 18,300 shares during the period. Boston Partners grew its position in shares of Graham by 1.3% in the first quarter. Boston Partners now owns 89,812 shares of the industrial products company’s stock valued at $1,763,000 after purchasing an additional 1,120 shares during the period. Geode Capital Management LLC grew its position in shares of Graham by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 89,139 shares of the industrial products company’s stock valued at $2,035,000 after purchasing an additional 4,904 shares during the period. Finally, Moors & Cabot Inc. grew its position in shares of Graham by 100.0% in the first quarter. Moors & Cabot Inc. now owns 57,800 shares of the industrial products company’s stock valued at $1,146,000 after purchasing an additional 28,904 shares during the period. 75.83% of the stock is owned by institutional investors.
Several analysts have recently issued reports on the stock. Ascendiant Capital Markets assumed coverage on shares of Graham in a research report on Monday, April 22nd. They issued a “buy” rating and a $1.59 target price on the stock. Maxim Group reiterated a “buy” rating and issued a $25.00 target price on shares of Graham in a research report on Friday, July 26th. Zacks Investment Research upgraded shares of Graham from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, August 7th. Finally, ValuEngine lowered shares of Graham from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Graham has a consensus rating of “Buy” and a consensus price target of $16.53.
GHM opened at $19.48 on Friday. The firm has a market capitalization of $192.46 million, a PE ratio of 38.20 and a beta of 0.76. Graham Co. has a twelve month low of $18.62 and a twelve month high of $28.98. The firm’s 50-day moving average price is $20.26 and its 200 day moving average price is $20.78.
Graham (NYSE:GHM) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $20.59 million for the quarter, compared to analyst estimates of $19.19 million. Graham had a negative net margin of 3.08% and a positive return on equity of 3.61%. Equities analysts anticipate that Graham Co. will post 0.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, August 20th. This is a positive change from Graham’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 2.26%. Graham’s payout ratio is presently 78.43%.
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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