Squarepoint Ops LLC Takes Position in Graham Corporation $GHM

Squarepoint Ops LLC purchased a new stake in Graham Corporation (NYSE:GHM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 36,153 shares of the industrial products company’s stock, valued at approximately $4,475,000.

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System acquired a new position in Graham in the 2nd quarter worth about $350,000. Corient Private Wealth LP grew its holdings in Graham by 9.5% in the second quarter. Corient Private Wealth LP now owns 2,863 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 249 shares during the period. California State Teachers Retirement System grew its holdings in Graham by 249,920.6% in the second quarter. California State Teachers Retirement System now owns 1,407,616 shares of the industrial products company’s stock valued at $174,249,000 after purchasing an additional 1,407,053 shares during the period. Angeles Wealth Management LLC purchased a new stake in shares of Graham in the second quarter valued at approximately $249,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Graham in the second quarter valued at approximately $558,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GHM. Wall Street Zen upgraded Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Northland Securities upped their price objective on shares of Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Zacks Research downgraded shares of Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Oppenheimer increased their price objective on shares of Graham to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $132.50.

Graham Price Performance

Shares of Graham stock opened at $87.47 on Friday. The business has a 50 day simple moving average of $100.66 and a two-hundred day simple moving average of $96.85. Graham Corporation has a 12 month low of $48.47 and a 12 month high of $125.82. The stock has a market capitalization of $1.03 billion, a P/E ratio of 84.10 and a beta of 1.05.

Graham (NYSE:GHM) 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. Graham had a return on equity of 11.09% and a net margin of 4.53%.The firm had revenue of $71.34 million for the quarter, compared to analyst estimates of $65.60 million. During the same period in the previous year, the company posted $0.45 earnings per share. The business’s revenue was up 28.6% on a year-over-year basis. As a group, research analysts anticipate that Graham Corporation will post 1.87 EPS 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.