Graham (NYSE:GHM) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Graham (NYSE:GHM) from a hold rating to a sell rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Graham Corporation designs and builds vacuum and heat transfer equipment for process industries and energy markets worldwide. The Company’s products include steam jet ejector vacuum systems and liquid ring vacuum pumps, surface condensers, Heliflows, water heaters, and various types of heat exchangers. It markets to chemical, petrochemical, petroleum refining, and electric power generating industries, including cogeneration and geothermal plants. Graham Corporation is headquartered in Batavia, New York. “

Separately, Colliers Securities set a $13.35 price objective on shares of Graham in a research note on Thursday, July 15th.

Shares of Graham stock opened at $12.42 on Tuesday. Graham has a twelve month low of $11.84 and a twelve month high of $17.44. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $13.01 and a two-hundred day simple moving average of $13.99. The stock has a market capitalization of $132.78 million, a price-to-earnings ratio of 112.92, a price-to-earnings-growth ratio of 6.20 and a beta of 0.83.

Graham (NYSE:GHM) last issued its quarterly earnings data on Monday, August 9th. The industrial products company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.23). Graham had a return on equity of 1.40% and a net margin of 1.06%. The business had revenue of $20.16 million during the quarter. During the same period last year, the business earned ($0.18) EPS. On average, sell-side analysts anticipate that Graham will post 0.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 25th. Shareholders of record on Wednesday, August 11th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, August 10th. Graham’s dividend payout ratio is currently 183.33%.

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in Graham by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 138,020 shares of the industrial products company’s stock valued at $1,965,000 after buying an additional 1,162 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Graham by 5.4% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 29,692 shares of the industrial products company’s stock valued at $423,000 after buying an additional 1,520 shares during the period. Goldman Sachs Group Inc. increased its holdings in Graham by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,130 shares of the industrial products company’s stock valued at $201,000 after buying an additional 1,654 shares during the period. Dimensional Fund Advisors LP increased its holdings in Graham by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 402,036 shares of the industrial products company’s stock valued at $5,725,000 after buying an additional 2,021 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Graham by 64.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,179 shares of the industrial products company’s stock valued at $74,000 after buying an additional 2,029 shares during the period. 66.78% of the stock is currently owned by hedge funds and other institutional investors.

Graham Company Profile

Graham Corp. engages in the design, manufacture, and sale of equipment for the energy, defense, chemical, and petrochemical industries. Its products include surface condensers, ejector, heliflow spiral tube heat exchangers, desuperheaters and mircromix water heaters. The company was founded on March 7, 1983 and is headquartered in Batavia, NY.

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