Navellier & Associates Inc. Reduces Stock Position in Graham Corporation (NYSE:GHM)

Key Points

• Navellier & Associates Inc. significantly reduced its stake in Graham Corporation by 69.8%, selling 18,771 shares to hold 8,122 shares valued at $234,000.
• Many hedge funds have altered their positions in Graham, with the New York State Teachers Retirement System increasing their stake by 839% and GAMMA Investing LLC growing theirs by 12,800% in the first quarter.
• Graham Corporation exceeded earnings expectations with a report of $0.43 earnings per share and revenue of $59.35 million for the last quarter, beating analysts' estimates.

Navellier & Associates Inc. trimmed its holdings in shares of Graham Corporation (NYSE:GHM - Free Report) by 69.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,122 shares of the industrial products company's stock after selling 18,771 shares during the period. Navellier & Associates Inc. owned 0.07% of Graham worth $234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GHM. Vanguard Group Inc. raised its position in Graham by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 653,991 shares of the industrial products company's stock valued at $29,083,000 after acquiring an additional 14,589 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Graham by 8.7% in the fourth quarter. Renaissance Technologies LLC now owns 375,368 shares of the industrial products company's stock valued at $16,693,000 after purchasing an additional 29,900 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Graham by 12.7% in the first quarter. Diamond Hill Capital Management Inc. now owns 202,714 shares of the industrial products company's stock valued at $5,842,000 after purchasing an additional 22,774 shares during the period. Invesco Ltd. grew its stake in shares of Graham by 1,479.1% in the fourth quarter. Invesco Ltd. now owns 158,369 shares of the industrial products company's stock worth $7,043,000 after acquiring an additional 148,340 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Graham by 137.4% during the fourth quarter. American Century Companies Inc. now owns 137,658 shares of the industrial products company's stock worth $6,122,000 after buying an additional 79,671 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Graham Price Performance

Graham stock traded up $0.75 during trading hours on Wednesday, reaching $56.21. The company had a trading volume of 33,146 shares, compared to its average volume of 100,828. The firm has a market cap of $616.91 million, a price-to-earnings ratio of 50.63 and a beta of 0.90. The company has a 50-day moving average price of $47.41 and a 200 day moving average price of $39.33. Graham Corporation has a 12-month low of $24.78 and a 12-month high of $56.96.

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

Analyst Upgrades and Downgrades

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

Graham Profile

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.