Graham Co. (NYSE:GHM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in shares of Graham Co. (NYSE:GHM) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 331,168 shares of the industrial products company’s stock after selling 3,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Graham were worth $9,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of Graham during the 2nd quarter worth $37,000. Lazard Asset Management LLC increased its stake 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 valued at $117,000 after purchasing an additional 4,245 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Graham during the fourth quarter worth about $148,000. Rhumbline Advisers boosted its stake in Graham by 3,033.9% in the 2nd quarter. Rhumbline Advisers now owns 11,094 shares of the industrial products company’s stock worth $312,000 after buying an additional 10,740 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Graham in the 2nd quarter valued at about $469,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Graham from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Noble Financial assumed coverage on shares of Graham in a research report on Monday, June 24th. They set an “outperform” rating and a $35.00 price target for the company.

Graham Trading Down 0.9 %

Shares of Graham stock opened at $30.07 on Wednesday. The business’s fifty day moving average price is $30.17 and its 200 day moving average price is $28.93. Graham Co. has a twelve month low of $15.01 and a twelve month high of $34.72. The stock has a market capitalization of $326.89 million, a P/E ratio of 69.93 and a beta of 0.56.

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, beating the consensus estimate of $0.18 by $0.15. The business had revenue of $49.95 million for the quarter, compared to analyst estimates of $50.00 million. Graham had a return on equity of 5.26% and a net margin of 2.60%. During the same period in the previous year, the company posted $0.25 EPS. As a group, sell-side analysts predict that Graham Co. will post 0.95 EPS for the current 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.