Diamond Hill Capital Management LLC Investment Advisor Takes Position in Graham Corporation $GHM

Key Points

• Diamond Hill Capital Management acquired 73,340 shares of Graham Corporation, worth approximately $9.1 million, giving it a 0.63% stake. Institutional investors collectively own 69.46% of the company.
• Graham reported quarterly EPS of $0.49, beating estimates of $0.27, while revenue rose 28.6% year over year to $71.34 million. The stock opened at $115.03, near its 12-month high of $125.82.
• Analysts raised several price targets, but Graham’s overall consensus remains “Hold”, with a consensus target of $132.50.

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Graham Corporation (NYSE:GHM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 73,340 shares of the industrial products company's stock, valued at approximately $9,079,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.63% of Graham at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Graham during the 2nd quarter worth approximately $52,000. Fifth Third Bancorp bought a new stake in Graham in the first quarter valued at approximately $69,000. Comerica Bank boosted 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 valued at $58,000 after purchasing an additional 840 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 410 shares during the period. Finally, Covestor Ltd grew its holdings in shares of Graham by 4,697.4% in the fourth quarter. Covestor Ltd now owns 1,871 shares of the industrial products company's stock worth $120,000 after purchasing an additional 1,832 shares during the last quarter. Institutional investors own 69.46% of the company's stock.

Graham Stock Up 0.9%

NYSE:GHM opened at $115.03 on Tuesday. The stock has a market cap of $1.35 billion, a P/E ratio of 110.61 and a beta of 1.04. The firm's fifty day simple moving average is $108.43 and its 200 day simple moving average is $95.32. Graham Corporation has a twelve month low of $46.58 and a twelve month high of $125.82.

Graham (NYSE:GHM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $65.60 million. During the same period in the prior year, the business earned $0.45 EPS. The company's revenue for the quarter was up 28.6% on a year-over-year basis. On average, analysts expect that Graham Corporation will post 1.87 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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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