Granite Investment Partners LLC decreased its position in shares of Graham Corporation (NYSE:GHM) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 121,205 shares of the industrial products company’s stock after selling 3,261 shares during the period. Granite Investment Partners LLC’s holdings in Graham Corporation were worth $2,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thomson Horstmann & Bryant Inc. boosted its position in shares of Graham Corporation by 19.7% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 534,132 shares of the industrial products company’s stock worth $12,285,000 after buying an additional 87,949 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Graham Corporation by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 364,689 shares of the industrial products company’s stock worth $8,388,000 after buying an additional 25,940 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Graham Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 361,349 shares of the industrial products company’s stock worth $8,311,000 after buying an additional 11,266 shares in the last quarter. RK Capital Management LLC boosted its position in shares of Graham Corporation by 18.3% in the first quarter. RK Capital Management LLC now owns 343,655 shares of the industrial products company’s stock worth $7,904,000 after buying an additional 53,055 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Graham Corporation by 6.0% in the first quarter. Renaissance Technologies LLC now owns 235,200 shares of the industrial products company’s stock worth $5,410,000 after buying an additional 13,400 shares in the last quarter. 74.94% of the stock is currently owned by hedge funds and other institutional investors.

Graham Corporation (GHM) opened at 19.39 on Friday. Graham Corporation has a 12 month low of $17.19 and a 12 month high of $25.00. The stock has a market cap of $189.40 million, a PE ratio of 32.16 and a beta of 1.05. The stock’s 50 day moving average price is $19.93 and its 200-day moving average price is $21.57.

Graham Corporation (NYSE:GHM) last released its quarterly earnings results on Friday, August 4th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.09. The firm had revenue of $20.90 million for the quarter, compared to the consensus estimate of $17.89 million. Graham Corporation had a return on equity of 5.28% and a net margin of 6.51%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. Analysts anticipate that Graham Corporation will post $0.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.86%. Graham Corporation’s dividend payout ratio (DPR) is currently 60.00%.

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Separately, Zacks Investment Research cut Graham Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th.

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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Institutional Ownership by Quarter for Graham Corporation (NYSE:GHM)

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