Principal Financial Group Inc. Buys New Shares in Graham Co. (NYSE:GHM)

Principal Financial Group Inc. purchased a new stake in Graham Co. (NYSE:GHM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,981 shares of the industrial products company’s stock, valued at approximately $266,000.

Several other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its stake in shares of Graham by 8,163.5% in the first quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 4,245 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Graham in the 1st quarter valued at $1,118,000. Ellsworth Advisors LLC lifted its holdings in shares of Graham by 2.5% during the 2nd quarter. Ellsworth Advisors LLC now owns 31,364 shares of the industrial products company’s stock worth $883,000 after acquiring an additional 759 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Graham during the 2nd quarter valued at about $904,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Graham during the 2nd quarter valued at about $469,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Graham Stock Performance

Shares of NYSE GHM opened at $44.34 on Tuesday. Graham Co. has a 52-week low of $17.02 and a 52-week high of $45.67. The business has a fifty day moving average of $32.85 and a two-hundred day moving average of $30.56. The stock has a market cap of $482.86 million, a PE ratio of 62.45 and a beta of 0.56.

Graham (NYSE:GHM) last released its quarterly earnings results on Friday, November 8th. The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Graham had a net margin of 3.95% and a return on equity of 7.91%. The firm had revenue of $53.56 million for the quarter, compared to analyst estimates of $50.50 million. During the same period in the previous year, the business earned $0.04 earnings per share. Analysts predict that Graham Co. will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Graham from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

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.