Graham (NYSE:GHM) Cut to Hold at StockNews.com

Graham (NYSE:GHM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Graham Stock Up 0.6 %

Shares of Graham stock opened at $33.02 on Thursday. Graham has a 12-month low of $23.04 and a 12-month high of $52.00. The stock has a 50 day moving average price of $42.23 and a two-hundred day moving average price of $36.90. The stock has a market capitalization of $360.02 million, a P/E ratio of 39.78 and a beta of 0.71.

Graham (NYSE:GHM) last issued its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. Graham had a return on equity of 9.35% and a net margin of 4.60%. Sell-side analysts anticipate that Graham will post 1.07 earnings per share for the current year.

Institutional Trading of Graham

Several hedge funds and other institutional investors have recently bought and sold shares of GHM. Invesco Ltd. lifted its stake in shares of Graham by 1,479.1% in the fourth quarter. Invesco Ltd. now owns 158,369 shares of the industrial products company’s stock valued at $7,043,000 after buying an additional 148,340 shares during the period. American Century Companies Inc. increased its position in shares of Graham by 137.4% during the fourth quarter. American Century Companies Inc. now owns 137,658 shares of the industrial products company’s stock valued at $6,122,000 after purchasing an additional 79,671 shares during the period. Wellington Management Group LLP bought a new stake in shares of Graham during the third quarter valued at approximately $1,103,000. Renaissance Technologies LLC lifted its position in Graham by 8.7% in the fourth quarter. Renaissance Technologies LLC now owns 375,368 shares of the industrial products company’s stock worth $16,693,000 after purchasing an additional 29,900 shares during the period. Finally, State Street Corp boosted its stake in Graham by 22.6% during the third quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock worth $4,693,000 after buying an additional 29,277 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.

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.