Millennium Management LLC Sells 2,302 Shares of Graham Co. (NYSE:GHM)

Millennium Management LLC lowered its stake in Graham Co. (NYSE:GHM) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,475 shares of the industrial products company’s stock after selling 2,302 shares during the quarter. Millennium Management LLC’s holdings in Graham were worth $3,928,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GHM. Itau Unibanco Holding S.A. purchased a new position in shares of Graham in the 2nd quarter worth $31,000. nVerses Capital LLC purchased a new position in Graham in the second quarter worth about $37,000. Lazard Asset Management LLC boosted its position in 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 purchasing an additional 4,245 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Graham during the 2nd quarter valued at about $255,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Graham by 85.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,439 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 4,811 shares during the last quarter. Institutional investors own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GHM. StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Noble Financial began 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.

Graham Stock Up 3.0 %

Shares of GHM opened at $30.92 on Monday. The business has a 50-day simple moving average of $29.64 and a two-hundred day simple moving average of $29.32. Graham Co. has a 52 week low of $15.01 and a 52 week high of $34.72. The stock has a market cap of $336.13 million, a price-to-earnings ratio of 71.91 and a beta of 0.56.

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