Bank of America Corp DE Acquires 26,279 Shares of Graham Corporation $GHM

Key Points

• Bank of America acquired 26,279 Graham shares worth approximately $3.25 million during the second quarter, while institutional investors collectively owned 69.46% of the company.
• Graham reported quarterly EPS of $0.49, exceeding the $0.27 consensus estimate, while revenue rose 28.6% year over year to $71.34 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $132.50 price target; shares opened at $85.98, well below their 12-month high of $125.82.

Bank of America Corp DE purchased a new position in Graham Corporation (NYSE:GHM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,279 shares of the industrial products company's stock, valued at approximately $3,253,000. Bank of America Corp DE owned approximately 0.22% of Graham at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Graham during the second quarter valued at approximately $110,235,000. William Blair Investment Management LLC acquired a new position in Graham in the second quarter worth approximately $45,159,000. Bank of New York Mellon Corp bought a new position in shares of Graham in the second quarter valued at $31,920,000. Agman Capital LLC acquired a new stake in shares of Graham during the 4th quarter valued at $14,079,000. Finally, De Lisle Partners LLP acquired a new stake in shares of Graham during the 2nd quarter valued at $11,141,000. Institutional investors own 69.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GHM shares. Wall Street Zen raised Graham from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research downgraded Graham from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 10th. Weiss Ratings upgraded Graham from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, September 16th. Oppenheimer lifted their price target on Graham to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Finally, Northland Securities boosted their price objective on Graham from $111.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $132.50.

Graham Stock Down 1.4%

Shares of NYSE:GHM opened at $85.98 on Wednesday. The firm has a fifty day moving average of $95.30 and a two-hundred day moving average of $97.13. The firm has a market capitalization of $1.01 billion, a P/E ratio of 82.68 and a beta of 1.05. Graham Corporation has a 12-month low of $51.53 and a 12-month high of $125.82.

Graham (NYSE:GHM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) 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 business had revenue of $71.34 million during the quarter, compared to analyst estimates of $65.60 million. During the same period last year, the company earned $0.45 earnings per share. Graham's quarterly revenue was up 28.6% compared to the same quarter last year. Equities research analysts expect that Graham Corporation will post 1.87 earnings per share for the current fiscal year.

Graham Company Profile

Graham Corporation NYSE: GHM designs and manufactures engineered vacuum and heat-transfer equipment for industrial, defense and aerospace applications. Its products include ejectors, vacuum systems, surface condensers, heat exchangers, feedwater heaters and other specialized thermal-management equipment.

The company serves customers in the U.S. Navy and other defense markets, as well as power generation, chemical processing, refining and related industries. Graham's equipment is used in applications that require steam, heat transfer, condensation or controlled vacuum conditions, including marine propulsion and industrial process systems.

Founded in 1936 and headquartered in Batavia, New York, Graham has historically supplied equipment to customers in the United States and international markets.

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