Conestoga Capital Advisors LLC Acquires Shares of 21,340 Graham Corporation $GHM

Conestoga Capital Advisors LLC bought a new stake in Graham Corporation (NYSE:GHM) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 21,340 shares of the industrial products company’s stock, valued at approximately $1,684,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GHM. Comerica Bank grew its position in shares of Graham by 396.2% during the third quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock worth $58,000 after buying an additional 840 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Graham by 62.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 410 shares during the last quarter. Covestor Ltd boosted its stake in Graham by 4,697.4% during the 4th quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 1,832 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Graham by 385.1% during the 4th quarter. State of Alaska Department of Revenue now owns 2,925 shares of the industrial products company’s stock worth $187,000 after acquiring an additional 2,322 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Graham during the 4th quarter worth $201,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Graham Stock Performance

Shares of NYSE GHM opened at $119.32 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $102.52 and its two-hundred day moving average price is $86.57. Graham Corporation has a 52-week low of $46.08 and a 52-week high of $125.82. The stock has a market capitalization of $1.39 billion, a P/E ratio of 105.60 and a beta of 1.01.

Graham (NYSE:GHM) last posted its earnings results on Monday, June 8th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $67.08 million during the quarter, compared to analyst estimates of $59.95 million. Graham had a return on equity of 11.94% and a net margin of 5.10%.The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts forecast that Graham Corporation will post 1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GHM has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Graham from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 9th. Wall Street Zen downgraded Graham from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Northland Securities boosted their price objective on Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Zacks Research cut Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Oppenheimer increased their target price on Graham to $130.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.50.

About Graham

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.