Bank of New York Mellon Corp Purchases Shares of 32,116 Graham Co. (NYSE:GHM)

Bank of New York Mellon Corp purchased a new position in Graham Co. (NYSE:GHM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,116 shares of the industrial products company’s stock, valued at approximately $904,000. Bank of New York Mellon Corp owned approximately 0.30% of Graham as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GHM. Lazard Asset Management LLC lifted its position in shares of Graham by 8,163.5% in the first 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. Victory Capital Management Inc. bought a new position in shares of Graham during the 4th quarter valued at approximately $148,000. Quadrature Capital Ltd purchased a new stake in Graham during the fourth quarter valued at $325,000. Ellsworth Advisors LLC lifted its position in Graham by 2.5% during the second quarter. Ellsworth Advisors LLC now owns 31,364 shares of the industrial products company’s stock valued at $883,000 after purchasing an additional 759 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Graham in the 1st quarter worth $1,118,000. Institutional investors own 69.46% of the company’s stock.

Graham Trading Down 0.7 %

Shares of GHM opened at $30.34 on Friday. Graham Co. has a twelve month low of $14.78 and a twelve month high of $34.72. The company’s fifty day simple moving average is $30.21 and its 200-day simple moving average is $28.81. The company has a market cap of $329.83 million, a P/E ratio of 70.56 and a beta of 0.56.

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

Analyst Ratings Changes

A number of brokerages recently commented on GHM. 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 target for the company. StockNews.com upgraded Graham from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

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.