Squarepoint Ops LLC Makes New $4.47 Million Investment in Graham Corporation $GHM

Key Points

• Squarepoint Ops LLC acquired 36,153 Graham shares worth approximately $4.47 million in the second quarter, giving it a 0.31% stake. Institutional investors collectively own 69.46% of the company.
• Analyst sentiment is mixed: Oppenheimer and Northland Securities raised their price targets and maintained “outperform” ratings, while other firms issued “hold” or weaker ratings. The consensus rating is Hold, with an average price target of $132.50.
• Graham exceeded quarterly expectations, reporting $0.49 in EPS versus a $0.27 consensus estimate and $71.34 million in revenue versus $65.60 million expected; revenue increased 28.6% year over year.

Squarepoint Ops LLC acquired a new position in shares of Graham Corporation (NYSE:GHM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 36,153 shares of the industrial products company's stock, valued at approximately $4,475,000. Squarepoint Ops LLC owned 0.31% of Graham at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Nicholas Investment Partners LP acquired a new stake in Graham during the 4th quarter worth about $1,888,000. Legato Capital Management LLC grew its stake in Graham by 21.7% during the 4th quarter. Legato Capital Management LLC now owns 50,519 shares of the industrial products company's stock valued at $3,245,000 after purchasing an additional 9,004 shares during the last quarter. Agman Capital LLC acquired a new position in shares of Graham in the fourth quarter valued at about $14,079,000. BlackRock Inc. purchased a new position in shares of Graham in the second quarter worth about $110,235,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Graham in the second quarter worth about $45,159,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Oppenheimer lifted their target price on Graham to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 25th. Zacks Research lowered shares of Graham from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 10th. Northland Securities lifted their price objective on shares of Graham from $111.00 to $135.00 and gave the company an "outperform" rating in a research note 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. Finally, Weiss Ratings lowered shares of Graham from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Graham has a consensus rating of "Hold" and an average price target of $132.50.

Graham Stock Up 2.3%

Shares of GHM opened at $87.47 on Friday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 84.10 and a beta of 1.05. Graham Corporation has a 52 week low of $48.47 and a 52 week high of $125.82. The stock's 50-day moving average price is $100.66 and its 200-day moving average price is $96.85.

Graham (NYSE:GHM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The company had revenue of $71.34 million during the quarter, compared to the consensus estimate of $65.60 million. Graham had a return on equity of 11.09% and a net margin of 4.53%.Graham's revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, equities analysts anticipate that Graham Corporation will post 1.87 EPS for the current fiscal year.

Graham Company 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.

Want to see what other hedge funds are holding GHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graham Corporation (NYSE:GHM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.