Nicholas Investment Partners LP Makes New $3.80 Million Investment in Graham Corporation $GHM

Key Points

• Nicholas Investment Partners LP acquired 30,733 Graham shares worth approximately $3.80 million, representing about 0.26% of the company. Institutional investors collectively own 69.46% of Graham’s stock.
• Analyst sentiment is mixed, with two Buy ratings and three Holds; Graham has a consensus rating of Hold and an average price target of $132.50.
• Graham reported quarterly EPS of $0.49, exceeding the $0.27 consensus estimate, while revenue rose 28.6% year over year to $71.34 million. Shares opened at $96.87 after recently trading down 4.6%.

Nicholas Investment Partners LP acquired a new stake in shares of Graham Corporation (NYSE:GHM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 30,733 shares of the industrial products company's stock, valued at approximately $3,804,000. Nicholas Investment Partners LP owned about 0.26% of Graham at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Graham in the 2nd quarter worth about $110,235,000. Auto Owners Insurance Co increased its position in shares of Graham by 6,323.0% during the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company's stock valued at $4,538,000 after acquiring an additional 695,530 shares in the last quarter. Vanguard Group Inc. raised its holdings in Graham by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 602,448 shares of the industrial products company's stock worth $33,074,000 after acquiring an additional 12,974 shares during the last quarter. Royce & Associates LP raised its holdings in Graham by 2.7% in the 4th quarter. Royce & Associates LP now owns 472,207 shares of the industrial products company's stock worth $30,330,000 after acquiring an additional 12,509 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Graham in the 2nd quarter valued at approximately $45,159,000. Hedge funds and other institutional investors own 69.46% of the company's stock.

Analyst Ratings Changes

GHM has been the subject of several research analyst reports. Northland Securities increased their target price on Graham from $111.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. Oppenheimer upped their price objective on Graham to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 25th. Wall Street Zen raised shares of Graham from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research cut shares of Graham from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings raised shares of Graham from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $132.50.

Graham Trading Down 4.6%

NYSE:GHM opened at $96.87 on Tuesday. Graham Corporation has a twelve month low of $46.58 and a twelve month high of $125.82. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 93.14 and a beta of 1.04. The stock has a fifty day simple moving average of $108.50 and a 200-day simple moving average of $96.40.

Graham (NYSE:GHM - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $71.34 million for the quarter, compared to the consensus estimate of $65.60 million. Graham had a net margin of 4.53% and a return on equity of 11.09%. The firm's revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. As a group, equities research analysts predict that Graham Corporation will post 1.87 EPS for the current fiscal 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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