Renaissance Technologies LLC Sells 21,000 Shares of Graham Corporation $GHM

Renaissance Technologies LLC lowered its position in Graham Corporation (NYSE:GHM) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 247,368 shares of the industrial products company’s stock after selling 21,000 shares during the period. Renaissance Technologies LLC’s holdings in Graham were worth $19,522,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in shares of Graham in the 3rd quarter worth $1,142,000. Nicholas Investment Partners LP bought a new position in Graham in the 4th quarter valued at $1,888,000. JPMorgan Chase & Co. grew its holdings in shares of Graham by 383.1% in the third quarter. JPMorgan Chase & Co. now owns 24,289 shares of the industrial products company’s stock worth $1,333,000 after purchasing an additional 19,261 shares during the last quarter. Agman Capital LLC purchased a new position in shares of Graham during the fourth quarter worth approximately $14,079,000. Finally, Legato Capital Management LLC raised its position in Graham by 21.7% during the 4th quarter. Legato Capital Management LLC now owns 50,519 shares of the industrial products company’s stock valued at $3,245,000 after purchasing an additional 9,004 shares in the last quarter. 69.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GHM. Oppenheimer increased their target price on Graham to $130.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Zacks Research lowered shares of Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Northland Securities raised their target price on Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Weiss Ratings cut Graham from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Finally, Wall Street Zen downgraded Graham from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Graham presently has a consensus rating of “Hold” and a consensus target price of $132.50.

Graham Stock Up 6.6%

GHM stock opened at $94.14 on Friday. The firm has a market cap of $1.10 billion, a PE ratio of 83.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.68 and a current ratio of 1.00. The firm’s fifty day moving average is $106.76 and its 200 day moving average is $92.43. Graham Corporation has a one year low of $46.08 and a one year high of $125.82.

Graham (NYSE:GHM) last posted its quarterly earnings data on Monday, June 8th. The industrial products company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $59.95 million. Graham had a return on equity of 11.94% and a net margin of 5.10%.The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. On average, research analysts forecast that Graham Corporation will post 1.85 EPS for the current year.

About Graham

Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.

The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.