Bank of New York Mellon Corp Buys New Stake in Graham Corporation $GHM

Bank of New York Mellon Corp purchased a new position in shares of Graham Corporation (NYSE:GHM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,146 shares of the industrial products company's stock, valued at approximately $4,598,000. Bank of New York Mellon Corp owned approximately 0.32% of Graham as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GHM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Graham in the second quarter valued at approximately $52,000. BNP Paribas Financial Markets raised its position in Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company's stock worth $53,000 after acquiring an additional 410 shares during the period. Comerica Bank increased its stake 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 purchasing an additional 840 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of Graham during the 1st quarter worth about $69,000. Finally, Covestor Ltd lifted its stake in Graham by 4,697.4% in the 4th quarter. Covestor Ltd now owns 1,871 shares of the industrial products company's stock valued at $120,000 after buying an additional 1,832 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GHM. Northland Securities increased their target price on Graham from $111.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Oppenheimer lifted their price target on Graham to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 25th. Zacks Research lowered Graham from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 10th. Weiss Ratings cut shares of Graham from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, August 28th. Finally, Wall Street Zen upgraded shares of Graham from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $132.50.

Graham Price Performance

Graham stock opened at $87.74 on Friday. The stock has a market cap of $1.03 billion, a PE ratio of 84.37 and a beta of 1.05. The stock's fifty day moving average is $103.80 and its two-hundred day moving average is $96.64. Graham Corporation has a 1-year low of $46.58 and a 1-year high of $125.82.

Graham (NYSE:GHM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The firm had revenue of $71.34 million during the quarter, compared to the consensus estimate of $65.60 million. Graham had a return on equity of 11.09% and a net margin of 4.53%.The firm's quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. On average, research analysts expect that Graham Corporation will post 1.87 earnings per share for the current fiscal year.

Graham 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.

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