Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Graham Corporation $GHM

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Graham Corporation (NYSE:GHM) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 17,470 shares of the industrial products company’s stock, valued at approximately $2,163,000.

A number of other large investors have also bought and sold shares of GHM. Rhumbline Advisers lifted its stake in Graham by 40.6% in the second quarter. Rhumbline Advisers now owns 14,755 shares of the industrial products company’s stock valued at $731,000 after buying an additional 4,257 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Graham during the second quarter worth $325,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Graham during the second quarter worth $226,000. Invesco Ltd. increased its position in shares of Graham by 1,396.0% during the second quarter. Invesco Ltd. now owns 115,893 shares of the industrial products company’s stock worth $5,738,000 after acquiring an additional 108,146 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Graham during the second quarter worth $783,000. 69.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GHM. Northland Securities upped their target price on shares of Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Weiss Ratings raised Graham from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Oppenheimer boosted their price target on Graham to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Graham currently has a consensus rating of “Hold” and a consensus target price of $132.50.

Graham Stock Up 1.5%

NYSE GHM opened at $101.51 on Friday. The firm’s 50 day moving average is $108.71 and its 200-day moving average is $96.10. The company has a market capitalization of $1.19 billion, a PE ratio of 97.61 and a beta of 1.04. Graham Corporation has a 12-month low of $46.58 and a 12-month high of $125.82.

Graham (NYSE:GHM) last announced its earnings results on Thursday, August 6th. The industrial products company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $71.34 million during the quarter, compared to analysts’ expectations of $65.60 million. Graham had a net margin of 4.53% and a return on equity of 11.09%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, sell-side analysts expect that Graham Corporation will post 1.87 EPS for the current 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.