Diamond Hill Capital Management LLC Investment Advisor Purchases New Shares in Graham Corporation $GHM

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Graham Corporation (NYSE:GHM) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 73,340 shares of the industrial products company’s stock, valued at approximately $9,079,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Nicholas Investment Partners LP purchased a new position in Graham during the fourth quarter valued at $1,888,000. Agman Capital LLC purchased a new stake in shares of Graham in the 4th quarter worth about $14,079,000. Legato Capital Management LLC increased its stake in shares of Graham by 21.7% in the 4th quarter. Legato Capital Management LLC now owns 50,519 shares of the industrial products company’s stock worth $3,245,000 after acquiring an additional 9,004 shares in the last quarter. State of Wyoming bought a new position in shares of Graham in the 2nd quarter worth about $1,107,000. Finally, Ausbil Investment Management Ltd purchased a new position in Graham during the 2nd quarter valued at about $615,000. Institutional investors own 69.46% of the company’s stock.

Graham Stock Up 0.9%

Shares of GHM opened at $115.03 on Tuesday. Graham Corporation has a twelve month low of $46.58 and a twelve month high of $125.82. The company has a market capitalization of $1.35 billion, a P/E ratio of 110.61 and a beta of 1.04. The firm has a 50 day moving average of $108.43 and a 200 day moving average of $95.32.

Graham (NYSE:GHM) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. Graham had a return on equity of 11.09% and a net margin of 4.53%.The business had revenue of $71.34 million for the quarter, compared to analysts’ expectations of $65.60 million. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. On average, sell-side analysts expect that Graham Corporation will post 1.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Northland Securities boosted their target price on Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Oppenheimer raised their price target on Graham to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $132.50.

Graham Profile

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.