Brandes Investment Partners LP Reduces Position in Graham Co. (NYSE:GHM)

Brandes Investment Partners LP trimmed its holdings in Graham Co. (NYSE:GHM) by 10.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,076,746 shares of the industrial products company’s stock after selling 129,913 shares during the quarter. Brandes Investment Partners LP owned approximately 9.90% of Graham worth $30,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in Graham in the second quarter worth $31,000. nVerses Capital LLC bought a new stake in Graham during the 2nd quarter valued at $37,000. Lazard Asset Management LLC grew its position in shares of Graham by 8,163.5% during the 1st quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company’s stock worth $117,000 after buying an additional 4,245 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Graham during the 2nd quarter worth $255,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Graham by 85.5% during the second quarter. Cubist Systematic Strategies LLC now owns 10,439 shares of the industrial products company’s stock valued at $294,000 after buying an additional 4,811 shares during the period. 69.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GHM has been the topic of several recent research reports. StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Noble Financial initiated coverage on Graham in a research note on Monday, June 24th. They set an “outperform” rating and a $35.00 target price on the stock.

Graham Stock Performance

Shares of GHM stock opened at $29.51 on Monday. 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 $320.80 million, a PE ratio of 68.63 and a beta of 0.56. The stock’s 50-day simple moving average is $30.12 and its 200-day simple moving average is $29.03.

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

Graham Company 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.