BlackRock Inc. Takes Position in Graham Corporation $GHM

Key Points

• BlackRock acquired 890,500 Graham shares in the second quarter, worth approximately $110.2 million and representing about 7.59% of the company. Institutional investors collectively own 69.46% of GHM.
• Graham’s latest quarterly results exceeded expectations, with earnings of $0.49 per share versus the $0.27 consensus estimate and revenue of $71.34 million, up 28.6% year over year.
• GHM shares opened at $86.45 after falling 7.4%; analysts maintain a consensus “Hold” rating with an average price target of $132.50.

BlackRock Inc. acquired a new position in shares of Graham Corporation (NYSE:GHM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 890,500 shares of the industrial products company's stock, valued at approximately $110,235,000. BlackRock Inc. owned approximately 7.59% of Graham as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Nicholas Investment Partners LP acquired a new stake in shares of Graham in the 4th quarter valued at about $1,888,000. Agman Capital LLC bought a new position in shares of Graham during the fourth quarter worth about $14,079,000. Legato Capital Management LLC grew its holdings in shares of Graham by 21.7% during the fourth quarter. Legato Capital Management LLC now owns 50,519 shares of the industrial products company's stock worth $3,245,000 after buying an additional 9,004 shares in the last quarter. State of Wyoming acquired a new stake in Graham in the 2nd quarter valued at approximately $1,107,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Graham in the 2nd quarter valued at approximately $9,079,000. 69.46% of the stock is owned by institutional investors.

Graham Trading Down 7.4%

NYSE GHM opened at $86.45 on Friday. Graham Corporation has a 12 month low of $46.58 and a 12 month high of $125.82. The stock has a 50 day moving average of $106.77 and a 200-day moving average of $96.67. The company has a market cap of $1.01 billion, a PE ratio of 83.13 and a beta of 1.04.

Graham (NYSE:GHM - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. Graham had a net margin of 4.53% and a return on equity of 11.09%. The business 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 company earned $0.45 earnings per share. The firm's revenue for the quarter was up 28.6% on a year-over-year basis. As a group, sell-side analysts predict that Graham Corporation will post 1.87 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.

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