Graham Corp. (GHM) Lowered to Hold at Zacks Investment Research
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. “
Shares of Graham Corp. (NYSE:GHM) opened at 19.06 on Monday. The company has a market cap of $185.13 million, a P/E ratio of 48.87 and a beta of 1.38. The stock’s 50 day moving average is $18.83 and its 200-day moving average is $18.70. Graham Corp. has a 12 month low of $14.39 and a 12 month high of $21.09.
Graham Corp. (NYSE:GHM) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. The business earned $22 million during the quarter, compared to analysts’ expectations of $20.35 million. Graham Corp. had a net margin of 4.55% and a return on equity of 3.77%. The business’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. On average, equities analysts forecast that Graham Corp. will post $0.31 EPS for the current year.
In related news, CAO Jennifer R. Condame sold 4,974 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $18.10, for a total transaction of $90,029.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY purchased a new position in Graham Corp. during the first quarter worth $159,000. O Shaughnessy Asset Management LLC boosted its position in Graham Corp. by 1,554.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 9,663 shares of the company’s stock worth $178,000 after buying an additional 9,079 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Graham Corp. by 7.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,018 shares of the company’s stock worth $239,000 after buying an additional 875 shares during the last quarter. Spark Investment Management LLC purchased a new position in Graham Corp. during the second quarter worth $228,000. Finally, Springbank Value Partners LP boosted its position in Graham Corp. by 6.7% in the first quarter. Springbank Value Partners LP now owns 16,000 shares of the company’s stock worth $319,000 after buying an additional 1,000 shares during the last quarter. 74.51% of the stock is owned by institutional investors.
Graham Corp. Company Profile
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.
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