Bank of New York Mellon Corp Has $797,000 Position in Graham Corporation (NYSE:GHM)

Bank of New York Mellon Corp lifted its stake in shares of Graham Corporation (NYSE:GHM) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,647 shares of the industrial products company’s stock after purchasing an additional 696 shares during the quarter. Bank of New York Mellon Corp owned 0.25% of Graham worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GHM. New York State Teachers Retirement System raised its position in Graham by 839.0% in the first quarter. New York State Teachers Retirement System now owns 939 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 839 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Graham in the first quarter valued at approximately $29,000. Russell Investments Group Ltd. raised its holdings in Graham by 18,025.0% in the 4th quarter. Russell Investments Group Ltd. now owns 1,450 shares of the industrial products company’s stock valued at $64,000 after buying an additional 1,442 shares during the last quarter. Legal & General Group Plc boosted its position in Graham by 26.0% during the 4th quarter. Legal & General Group Plc now owns 2,599 shares of the industrial products company’s stock worth $116,000 after buying an additional 536 shares during the period. Finally, GAMMA Investing LLC boosted its position in Graham by 12,800.0% during the 1st quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company’s stock worth $156,000 after buying an additional 5,376 shares during the period. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Graham Stock Performance

Graham stock opened at $55.44 on Friday. The firm has a market cap of $608.78 million, a price-to-earnings ratio of 49.95 and a beta of 0.92. Graham Corporation has a 52-week low of $24.78 and a 52-week high of $58.00. The firm has a 50 day moving average price of $48.58 and a two-hundred day moving average price of $39.64.

Graham (NYSE:GHM) last posted its quarterly earnings data on Monday, June 9th. The industrial products company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. The company had revenue of $59.35 million during the quarter, compared to analysts’ expectations of $55.67 million. Graham had a net margin of 5.83% and a return on equity of 12.07%. As a group, equities research analysts predict that Graham Corporation will post 1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GHM. Northland Capmk upgraded shares of Graham to a “strong-buy” rating in a research report on Monday, June 23rd. Northland Securities started coverage on Graham in a report on Monday, June 23rd. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, Maxim Group raised Graham to a “buy” rating and set a $65.00 target price for the company in a research report on Wednesday, July 2nd.

Graham Company Profile

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.