Graham Corporation $GHM Shares Sold by Calamos Advisors LLC

Key Points

• Calamos Advisors cut its Graham stake by 72.4% in the third quarter, selling 18,037 shares and ending with 6,873 shares valued at about $593,000.
• Institutional investors own 69.46% of Graham; several major firms, including BlackRock and Bank of New York Mellon, established new positions during the second quarter.
• Graham reported quarterly EPS of $0.52, above the $0.34 consensus, but revenue of $69.76 million fell short of expectations. Analysts’ average rating is “Moderate Buy,” with a consensus price target of $116.67.

Calamos Advisors LLC cut its position in shares of Graham Corporation (NYSE:GHM - Free Report) by 72.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,873 shares of the industrial products company's stock after selling 18,037 shares during the quarter. Calamos Advisors LLC owned 0.06% of Graham worth $593,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of GHM. BlackRock Inc. acquired a new position in Graham during the second quarter worth about $110,235,000. William Blair Investment Management LLC bought a new stake in shares of Graham in the 2nd quarter worth approximately $45,159,000. Bank of New York Mellon Corp bought a new stake in shares of Graham in the 2nd quarter worth approximately $31,920,000. De Lisle Partners LLP bought a new stake in shares of Graham in the 2nd quarter worth approximately $11,141,000. Finally, Wasatch Advisors LP lifted its stake in Graham by 0.8% during the second quarter. Wasatch Advisors LP now owns 85,103 shares of the industrial products company's stock valued at $10,535,000 after purchasing an additional 659 shares during the last quarter. Institutional investors own 69.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GHM shares. Oppenheimer reduced their price objective on Graham from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, October 8th. JPMorgan Chase & Co. cut their target price on shares of Graham from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday. Weiss Ratings cut Graham from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Wall Street Zen raised shares of Graham from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, William Blair initiated coverage on Graham in a report on Monday. They set an "outperform" rating on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Graham has an average rating of "Moderate Buy" and a consensus price target of $116.67.

Graham News Roundup

Here are the key news stories impacting Graham this week:

• Positive Sentiment: William Blair initiated coverage with an Outperform rating, adding a new bullish view of Graham’s shares. Graham surges as William Blair initiates with Outperform rating
• Positive Sentiment: Graham’s latest reported quarterly EPS of $0.52 beat analysts’ $0.34 estimate, helping support investor sentiment after the earnings announcement. Graham shares gap up after better-than-expected earnings
• Neutral Sentiment: Quarterly revenue was $69.76 million, below the $71.07 million analyst estimate, tempering the earnings-per-share beat.
• Negative Sentiment: JPMorgan lowered its price target from $120 to $100, signaling a more cautious valuation view, though it kept an Overweight rating. JPMorgan stock recommendations

Graham Stock Up 13.6%

Shares of GHM opened at $88.64 on Tuesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 77.08 and a beta of 1.16. Graham Corporation has a 12-month low of $52.57 and a 12-month high of $125.82. The stock's 50-day moving average price is $80.20 and its 200 day moving average price is $91.16.

Graham (NYSE:GHM - Get Free Report) last issued its earnings results on Thursday, November 5th. The industrial products company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.34 by $0.18. The firm had revenue of $69.76 million during the quarter, compared to analysts' expectations of $71.07 million. Graham had a return on equity of 11.09% and a net margin of 4.53%. Equities research analysts expect that Graham Corporation will post 1.90 EPS for the current year.

Graham Profile

Graham Corporation NYSE: GHM is a U.S.-based designer and manufacturer of engineered equipment and systems for the defense, space, and commercial markets. The company develops thermal-management, fluid-handling, vacuum, and power-generation technologies used in demanding industrial and government applications.

Graham supplies equipment for naval vessels, including surface ships and submarines, as well as systems supporting aerospace and space programs. Its products and capabilities include condensers, heat exchangers, vacuum equipment, steam and gas ejectors, cryogenic systems, and integrated propulsion and power solutions.

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