Royce & Associates LP Buys 89,014 Shares of Graham Corporation $GHM

Royce & Associates LP boosted its position in shares of Graham Corporation (NYSE:GHM) by 24.0% in the third quarter, Holdings Channel.com reports. The firm owned 459,698 shares of the industrial products company’s stock after acquiring an additional 89,014 shares during the period. Royce & Associates LP’s holdings in Graham were worth $25,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Graham by 77.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 86,358 shares of the industrial products company’s stock valued at $4,276,000 after buying an additional 37,781 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Graham by 39.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 115,846 shares of the industrial products company’s stock worth $6,360,000 after acquiring an additional 32,790 shares during the last quarter. Philadelphia Trust Co. grew its stake in shares of Graham by 41.4% during the 2nd quarter. Philadelphia Trust Co. now owns 84,532 shares of the industrial products company’s stock worth $4,185,000 after acquiring an additional 24,754 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Graham by 50.0% in the second quarter. Advisors Asset Management Inc. now owns 17,691 shares of the industrial products company’s stock valued at $876,000 after purchasing an additional 5,895 shares during the last quarter. Finally, ARS Investment Partners LLC bought a new stake in shares of Graham in the second quarter worth $464,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GHM shares. Weiss Ratings downgraded shares of Graham from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, February 20th. Northland Securities upgraded shares of Graham from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Finally, Wall Street Zen upgraded Graham from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.50.

Graham Price Performance

Shares of GHM opened at $80.90 on Monday. The company has a market cap of $895.59 million, a PE ratio of 59.93 and a beta of 0.90. The firm has a 50-day moving average of $74.70 and a 200-day moving average of $62.63. Graham Corporation has a one year low of $24.78 and a one year high of $91.91.

Graham (NYSE:GHM) last posted its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. Graham had a return on equity of 13.26% and a net margin of 6.28%.The business had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $52.36 million. Analysts expect that Graham Corporation will post 1.07 earnings per share for the current 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.