First Eagle Investment Management LLC Acquires 20,933 Shares of Graham Co. (NYSE:GHM)

First Eagle Investment Management LLC lifted its holdings in shares of Graham Co. (NYSE:GHM) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,662 shares of the industrial products company’s stock after purchasing an additional 20,933 shares during the quarter. First Eagle Investment Management LLC’s holdings in Graham were worth $8,833,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in Graham in the 2nd quarter worth approximately $37,000. Lazard Asset Management LLC lifted its holdings in shares of Graham by 8,163.5% during the 1st quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 4,245 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Graham during the 4th quarter worth $148,000. Rhumbline Advisers increased its stake in Graham by 3,033.9% in the second quarter. Rhumbline Advisers now owns 11,094 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 10,740 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Graham during the fourth quarter valued at about $325,000. 69.46% of the stock is currently owned by institutional investors.

Graham Stock Performance

Shares of Graham stock opened at $30.56 on Friday. Graham Co. has a 52-week low of $14.78 and a 52-week high of $34.72. The company has a fifty day moving average of $30.15 and a 200-day moving average of $28.72. The stock has a market capitalization of $332.22 million, a price-to-earnings ratio of 71.07 and a beta of 0.56.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on GHM. StockNews.com upgraded Graham from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Noble Financial started coverage on Graham in a research report on Monday, June 24th. They issued an “outperform” rating and a $35.00 target price for the company.

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.