Panagora Asset Management Inc. Invests $469,000 in Graham Co. (NYSE:GHM)

Panagora Asset Management Inc. acquired a new stake in Graham Co. (NYSE:GHM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,650 shares of the industrial products company’s stock, valued at approximately $469,000. Panagora Asset Management Inc. owned about 0.15% of Graham as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Graham during the 4th quarter valued at approximately $148,000. First Eagle Investment Management LLC raised its stake in Graham by 5.2% in the 4th quarter. First Eagle Investment Management LLC now owns 276,896 shares of the industrial products company’s stock worth $5,253,000 after acquiring an additional 13,621 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Graham during the 4th quarter worth about $161,000. Quadrature Capital Ltd purchased a new stake in Graham during the 4th quarter valued at about $325,000. Finally, Wasatch Advisors LP grew its stake in Graham by 7.4% during the 1st quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock valued at $9,841,000 after purchasing an additional 24,961 shares during the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Graham Stock Down 7.2 %

Shares of GHM stock opened at $29.56 on Wednesday. Graham Co. has a 52-week low of $14.78 and a 52-week high of $34.72. The stock has a market cap of $321.35 million, a PE ratio of 68.74 and a beta of 0.59. The business has a 50-day simple moving average of $29.96 and a 200-day simple moving average of $28.34.

Graham (NYSE:GHM) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The company had revenue of $49.95 million during the quarter, compared to the consensus estimate of $50.00 million. Graham had a return on equity of 5.26% and a net margin of 2.60%. During the same period in the previous year, the company posted $0.25 earnings per share. Sell-side analysts anticipate that Graham Co. will post 0.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GHM. StockNews.com downgraded Graham from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Noble Financial assumed coverage on shares of Graham in a report on Monday, June 24th. They issued an “outperform” rating and a $35.00 price objective on the stock.

Graham Profile

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.