Graham Corporation $GHM Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase increased its stake in Graham by 383.1% in Q3, acquiring an additional 19,261 shares to hold 24,289 shares (about 0.22% of the company) worth $1.33 million, while institutional ownership overall stands at 69.46% with several other funds also adding positions.
• Analyst sentiment is mixed but favorable: Oppenheimer initiated coverage with an "outperform" rating and $100 target, the street consensus is a "Moderate Buy" with an average target of $81.67, and ratings split three Buys and three Holds.
• Graham recently beat quarterly estimates (EPS $0.31 vs. $0.17; revenue $56.7M vs. $52.36M) and its shares trade near a 52-week high (around $91.97), with a market cap of $1.02 billion and a trailing PE of 68.13.

JPMorgan Chase & Co. increased its stake in shares of Graham Corporation (NYSE:GHM - Free Report) by 383.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 24,289 shares of the industrial products company's stock after acquiring an additional 19,261 shares during the period. JPMorgan Chase & Co. owned approximately 0.22% of Graham worth $1,333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GHM. Tudor Investment Corp ET AL purchased a new position in Graham in the 3rd quarter valued at about $1,142,000. CIBC Bancorp USA Inc. acquired a new position in shares of Graham in the third quarter worth about $368,000. Alyeska Investment Group L.P. acquired a new position in shares of Graham in the third quarter worth about $10,356,000. Verition Fund Management LLC acquired a new position in shares of Graham in the third quarter worth about $228,000. Finally, Millennium Management LLC acquired a new position in shares of Graham in the third quarter worth about $207,000. Institutional investors and hedge funds own 69.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GHM shares. Oppenheimer started coverage on Graham in a research report on Wednesday, March 18th. They issued an "outperform" rating and a $100.00 target price on the stock. Weiss Ratings lowered Graham from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, February 20th. Finally, Northland Securities raised Graham from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 10th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.67.

Graham Stock Performance

Shares of Graham stock opened at $91.97 on Friday. The firm has a market cap of $1.02 billion, a PE ratio of 68.13 and a beta of 0.95. Graham Corporation has a 1 year low of $27.78 and a 1 year high of $94.92. The firm's 50-day simple moving average is $82.02 and its 200-day simple moving average is $69.17.

Graham (NYSE:GHM - Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. The business had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.36 million. Graham had a return on equity of 13.26% and a net margin of 6.28%. On average, equities analysts predict that Graham Corporation will post 1.07 earnings per share for the current 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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