Diamond Hill Capital Management Inc. Increases Stake in Graham Corporation (NYSE:GHM)

Key Points

• Diamond Hill Capital Management Inc. increased its holdings in Graham Corporation by 12.7% in Q1, owning a total of 202,714 shares valued at approximately $5.84 million.
• Analysts have a positive outlook on Graham, with Northland Securities issuing an "outperform" rating and a price target of $55, while Maxim Group has upgraded the stock to "buy" with a $65 price target.
• Graham Corporation's recent quarterly earnings surpassed expectations, reporting $0.43 EPS against a forecast of $0.26, along with revenues of $59.35 million compared to an estimate of $55.67 million.

Diamond Hill Capital Management Inc. raised its stake in shares of Graham Corporation (NYSE:GHM - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 202,714 shares of the industrial products company's stock after purchasing an additional 22,774 shares during the period. Diamond Hill Capital Management Inc. owned 1.86% of Graham worth $5,842,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Graham during the 4th quarter worth about $814,000. Commonwealth Equity Services LLC bought a new position in Graham in the 4th quarter valued at about $258,000. American Century Companies Inc. lifted its position in Graham by 137.4% in the 4th quarter. American Century Companies Inc. now owns 137,658 shares of the industrial products company's stock valued at $6,122,000 after acquiring an additional 79,671 shares in the last quarter. LPL Financial LLC lifted its position in Graham by 35.2% in the 4th quarter. LPL Financial LLC now owns 18,315 shares of the industrial products company's stock valued at $814,000 after acquiring an additional 4,769 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Graham by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 653,991 shares of the industrial products company's stock worth $29,083,000 after buying an additional 14,589 shares in the last quarter. 69.46% of the stock is owned by institutional investors.

Graham Price Performance

Graham stock traded down $0.09 during mid-day trading on Monday, hitting $54.83. The company's stock had a trading volume of 12,928 shares, compared to its average volume of 100,976. The stock has a market cap of $602.03 million, a price-to-earnings ratio of 49.40 and a beta of 0.90. The business has a 50 day moving average price of $46.71 and a 200-day moving average price of $39.12. Graham Corporation has a 12 month low of $24.78 and a 12 month high of $55.00.

Graham (NYSE:GHM - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The industrial products company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.26 by $0.17. The firm had revenue of $59.35 million during the quarter, compared to the consensus estimate of $55.67 million. Graham had a net margin of 5.83% and a return on equity of 12.07%. On average, equities research analysts expect that Graham Corporation will post 1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on GHM. Maxim Group raised shares of Graham to a "buy" rating and set a $65.00 target price on the stock in a research report on Wednesday, July 2nd. Northland Capmk upgraded shares of Graham to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Northland Securities started coverage on shares of Graham in a research report on Monday, June 23rd. They set an "outperform" rating and a $55.00 price target for the company.

About Graham

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.