Nicholas Investment Partners LP Acquires New Shares in Graham Corporation $GHM

Nicholas Investment Partners LP acquired a new position in Graham Corporation (NYSE:GHM) in the second quarter, HoldingsChannel reports. The fund acquired 30,733 shares of the industrial products company’s stock, valued at approximately $3,804,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GHM. Westport Asset Management Inc. bought a new stake in shares of Graham in the 2nd quarter valued at about $171,000. AdvisorShares Investments LLC increased its holdings in Graham by 7.9% during the fourth quarter. AdvisorShares Investments LLC now owns 3,238 shares of the industrial products company’s stock valued at $208,000 after buying an additional 238 shares during the period. Raymond James Financial Inc. raised its stake in Graham by 1.5% in the third quarter. Raymond James Financial Inc. now owns 21,608 shares of the industrial products company’s stock worth $1,186,000 after buying an additional 319 shares in the last quarter. Diversified Trust Co raised its stake in Graham by 8.3% in the first quarter. Diversified Trust Co now owns 4,267 shares of the industrial products company’s stock worth $337,000 after buying an additional 326 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Graham by 2.2% during the fourth quarter. Barclays PLC now owns 16,212 shares of the industrial products company’s stock worth $1,041,000 after buying an additional 350 shares during the period. 69.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GHM shares. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Oppenheimer boosted their price target on Graham to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded Graham from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Northland Securities raised their price objective on Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Finally, Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $132.50.

Graham Trading Down 4.6%

Shares of GHM stock opened at $96.87 on Tuesday. Graham Corporation has a 12-month low of $46.58 and a 12-month high of $125.82. The business’s fifty day simple moving average is $108.50 and its 200-day simple moving average is $96.40. The company has a market cap of $1.14 billion, a PE ratio of 93.14 and a beta of 1.04.

Graham (NYSE:GHM) last announced its earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $65.60 million. During the same period in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, equities analysts forecast that Graham Corporation will post 1.87 earnings per share for the current year.

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.