Graham Corporation (NYSE:GHM) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Graham Corporation (NYSE:GHM) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Graham Corporation designs and builds vacuum and heat transfer equipment for process industries and energy markets worldwide. The Company’s products include steam jet ejector vacuum systems and liquid ring vacuum pumps, surface condensers, Heliflows, water heaters, and various types of heat exchangers. It markets to chemical, petrochemical, petroleum refining, and electric power generating industries, including cogeneration and geothermal plants. Graham Corporation is headquartered in Batavia, New York. “
Shares of Graham Corporation (NYSE GHM) opened at 20.15 on Wednesday. The firm has a market capitalization of $196.24 million, a P/E ratio of 38.97 and a beta of 1.05. The company has a 50-day moving average of $20.02 and a 200 day moving average of $21.70. Graham Corporation has a 52 week low of $17.19 and a 52 week high of $25.00.
Graham Corporation (NYSE:GHM) last released its quarterly earnings results on Friday, August 4th. The industrial products company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.09. Graham Corporation had a net margin of 5.47% and a return on equity of 4.93%. The business had revenue of $20.90 million for the quarter, compared to analysts’ expectations of $17.89 million. During the same period in the previous year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Graham Corporation will post $0.25 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, August 11th. Graham Corporation’s dividend payout ratio (DPR) is presently 70.59%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OLD National Bancorp IN boosted its position in Graham Corporation by 8.5% in the first quarter. OLD National Bancorp IN now owns 12,423 shares of the industrial products company’s stock valued at $286,000 after buying an additional 974 shares during the period. Value Holdings Management CO. LLC boosted its position in Graham Corporation by 27.1% in the first quarter. Value Holdings Management CO. LLC now owns 50,979 shares of the industrial products company’s stock valued at $1,351,000 after buying an additional 10,855 shares during the period. Russell Investments Group Ltd. boosted its position in Graham Corporation by 34.1% in the first quarter. Russell Investments Group Ltd. now owns 51,551 shares of the industrial products company’s stock valued at $1,186,000 after buying an additional 13,106 shares during the period. AMI Investment Management Inc. boosted its position in Graham Corporation by 2,430.3% in the first quarter. AMI Investment Management Inc. now owns 127,905 shares of the industrial products company’s stock valued at $2,435,000 after buying an additional 122,850 shares during the period. Finally, Nationwide Fund Advisors boosted its position in Graham Corporation by 18.8% in the first quarter. Nationwide Fund Advisors now owns 7,649 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,209 shares during the period. Institutional investors and hedge funds own 74.28% of the company’s stock.
Graham Corporation Company Profile
Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.
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