Royce & Associates LP lifted its holdings in Graham Co. (NYSE:GHM) by 11.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 385,853 shares of the industrial products company’s stock after purchasing an additional 38,700 shares during the quarter. Royce & Associates LP’s holdings in Graham were worth $9,959,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Ancora Advisors LLC grew its holdings in shares of Graham by 6.7% in the first quarter. Ancora Advisors LLC now owns 39,372 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 2,478 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Graham by 2.0% in the first quarter. Northern Trust Corp now owns 127,556 shares of the industrial products company’s stock valued at $2,732,000 after purchasing an additional 2,515 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Graham by 28.3% in the fourth quarter. Wells Fargo & Company MN now owns 15,410 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 3,400 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Graham in the second quarter valued at $213,000. Finally, Foundry Partners LLC grew its holdings in shares of Graham by 4.6% in the second quarter. Foundry Partners LLC now owns 281,078 shares of the industrial products company’s stock valued at $7,255,000 after purchasing an additional 12,400 shares in the last quarter. 76.49% of the stock is owned by hedge funds and other institutional investors.
In other Graham news, VP Alan E. Smith sold 6,689 shares of Graham stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $25.94, for a total value of $173,512.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeffrey Glajch sold 2,963 shares of Graham stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $28.36, for a total value of $84,030.68. Following the completion of the transaction, the chief financial officer now owns 55,477 shares in the company, valued at approximately $1,573,327.72. The disclosure for this sale can be found here. Insiders own 3.66% of the company’s stock.
NYSE:GHM opened at $27.54 on Thursday. Graham Co. has a twelve month low of $17.97 and a twelve month high of $28.98. The firm has a market cap of $270.76 million, a PE ratio of 144.95 and a beta of 0.83.
Graham (NYSE:GHM) last released its earnings results on Friday, August 3rd. The industrial products company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. The business had revenue of $29.55 million during the quarter. Graham had a positive return on equity of 3.00% and a negative net margin of 9.81%.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 29th. Investors of record on Wednesday, August 15th were issued a $0.10 dividend. This is an increase from Graham’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, August 14th.
GHM has been the subject of a number of recent research reports. ValuEngine raised shares of Graham from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. TheStreet upgraded Graham from a “c” rating to a “b-” rating in a research report on Thursday, May 31st.
Graham Corporation, together with its subsidiaries, designs, manufactures, and supplies vacuum and heat transfer equipment for the chemical, defense, petrochemical, petroleum refining, electric power generation, and other industries worldwide. It offers heat transfer equipment, including surface condensers, heliflows, water heaters, and various types of heat exchangers, as well as custom-engineered ejectors; and vacuum equipment, such as steam jet ejector vacuum systems and liquid ring vacuum pumps.
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