Graham Co. (NYSE:GHM) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in shares of Graham Co. (NYSE:GHM) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,396 shares of the industrial products company’s stock after selling 900 shares during the period. Gabelli Funds LLC’s holdings in Graham were worth $490,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GHM. Itau Unibanco Holding S.A. acquired a new position in shares of Graham during the 2nd quarter worth about $31,000. nVerses Capital LLC purchased a new stake in Graham during the 2nd quarter worth approximately $37,000. Lazard Asset Management LLC raised its holdings in shares of Graham by 8,163.5% during the first quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 4,245 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Graham in the second quarter valued at approximately $255,000. Finally, Rhumbline Advisers boosted its stake in shares of Graham by 3,033.9% in the second quarter. Rhumbline Advisers now owns 11,094 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 10,740 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Graham Price Performance

Shares of Graham stock opened at $29.25 on Friday. Graham Co. has a 1-year low of $15.01 and a 1-year high of $34.72. The stock has a market cap of $317.98 million, a P/E ratio of 68.02 and a beta of 0.56. The stock’s 50 day simple moving average is $30.14 and its 200-day simple moving average is $28.93.

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

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.