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

Bank of New York Mellon Corp bought a new position in shares of Graham Co. (NYSE:GHM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 32,116 shares of the industrial products company’s stock, valued at approximately $904,000.

A number of other institutional investors have also added to or reduced their stakes in GHM. Ellsworth Advisors LLC raised its stake in Graham by 2.5% in the second quarter. Ellsworth Advisors LLC now owns 31,364 shares of the industrial products company’s stock worth $883,000 after buying an additional 759 shares in the last quarter. Atria Investments Inc bought a new position in Graham in the first quarter worth about $1,118,000. Lazard Asset Management LLC raised its holdings 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 in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Graham by 9.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 46,983 shares of the industrial products company’s stock valued at $1,282,000 after buying an additional 4,122 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in shares of Graham by 1,640.8% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Graham Stock Down 0.7 %

GHM opened at $30.34 on Friday. The company has a market cap of $329.83 million, a P/E ratio of 70.56 and a beta of 0.56. The firm’s 50-day moving average price is $30.21 and its 200-day moving average price is $28.81. Graham Co. has a 52-week low of $14.78 and a 52-week high of $34.72.

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, beating 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 business had revenue of $49.95 million for the quarter, compared to analyst estimates of $50.00 million. During the same quarter in the prior year, the business posted $0.25 EPS. On average, research analysts anticipate that Graham Co. will post 0.95 EPS for the current fiscal 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.