Rhumbline Advisers Increases Holdings in Graham Co. (NYSE:GHM)

Rhumbline Advisers increased its holdings in shares of Graham Co. (NYSE:GHM) by 3,033.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,094 shares of the industrial products company’s stock after purchasing an additional 10,740 shares during the period. Rhumbline Advisers owned 0.10% of Graham worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. boosted its holdings in Graham by 1,640.8% during the first quarter. Hillsdale Investment Management Inc. now owns 147,972 shares of the industrial products company’s stock worth $4,037,000 after buying an additional 139,472 shares in the last quarter. Atria Investments Inc bought a new stake in Graham in the first quarter valued at about $1,118,000. Bank of New York Mellon Corp bought a new stake in Graham during the second quarter worth about $904,000. Wasatch Advisors LP lifted its position in shares of Graham by 7.4% during the first quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock worth $9,841,000 after purchasing an additional 24,961 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Graham by 14.8% in the first quarter. Acadian Asset Management LLC now owns 171,371 shares of the industrial products company’s stock valued at $4,673,000 after buying an additional 22,098 shares during the period. 69.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GHM. Noble Financial assumed coverage on shares of Graham in a research report on Monday, June 24th. They set an “outperform” rating and a $35.00 price objective for the company. StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Graham Price Performance

GHM opened at $29.53 on Friday. Graham Co. has a fifty-two week low of $15.01 and a fifty-two week high of $34.72. The firm has a market capitalization of $321.02 million, a price-to-earnings ratio of 68.67 and a beta of 0.56. The company’s 50 day moving average price is $30.12 and its two-hundred day moving average price is $28.97.

Graham (NYSE:GHM) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. Graham had a net margin of 2.60% and a return on equity of 5.26%. The firm had revenue of $49.95 million for the quarter, compared to the consensus estimate of $50.00 million. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities research analysts predict that Graham Co. will post 0.95 EPS for the current year.

About Graham

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.