Renaissance Technologies LLC Has $19.52 Million Stock Position in Graham Corporation $GHM

Renaissance Technologies LLC reduced its holdings in shares of Graham Corporation (NYSE:GHM) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 247,368 shares of the industrial products company’s stock after selling 21,000 shares during the quarter. Renaissance Technologies LLC owned 2.12% of Graham worth $19,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp acquired a new position in shares of Graham during the first quarter worth $69,000. Comerica Bank boosted its holdings in shares of Graham by 396.2% during the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 840 shares in the last quarter. BNP Paribas Financial Markets grew its position in Graham by 62.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 410 shares during the last quarter. Covestor Ltd grew its position in Graham by 4,697.4% during the 4th quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 1,832 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new position in Graham in the 1st quarter worth about $215,000. Institutional investors own 69.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings cut shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Northland Securities lifted their price objective on Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded Graham from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Oppenheimer raised their target price on Graham to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $132.50.

Graham Price Performance

Shares of NYSE GHM opened at $94.14 on Friday. Graham Corporation has a fifty-two week low of $46.08 and a fifty-two week high of $125.82. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 83.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.68 and a current ratio of 1.00. The firm’s 50-day simple moving average is $106.76 and its 200 day simple moving average is $92.43.

Graham (NYSE:GHM) last issued its quarterly earnings data on Monday, June 8th. The industrial products company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $67.08 million during the quarter, compared to analyst estimates of $59.95 million. Graham had a return on equity of 11.94% and a net margin of 5.10%.The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. As a group, research analysts anticipate that Graham Corporation will post 1.85 earnings per share for the current fiscal year.

About Graham

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.