Mitsubishi UFJ Asset Management Co. Ltd. Invests $2.16 Million in Graham Corporation $GHM

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Graham Corporation (NYSE:GHM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,470 shares of the industrial products company’s stock, valued at approximately $2,163,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.15% of Graham as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GHM. Auto Owners Insurance Co increased its position in Graham by 6,323.0% in the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock worth $4,538,000 after purchasing an additional 695,530 shares during the period. Vanguard Group Inc. boosted its stake in shares of Graham by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 602,448 shares of the industrial products company’s stock valued at $33,074,000 after purchasing an additional 12,974 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Graham by 2.7% in the 4th quarter. Royce & Associates LP now owns 472,207 shares of the industrial products company’s stock valued at $30,330,000 after purchasing an additional 12,509 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Graham by 6.1% during the 2nd quarter. Wasatch Advisors LP now owns 316,203 shares of the industrial products company’s stock worth $15,655,000 after buying an additional 18,084 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of Graham by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 298,020 shares of the industrial products company’s stock worth $19,142,000 after buying an additional 24,005 shares during the period. Institutional investors own 69.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

Graham Price Performance

Graham stock opened at $101.51 on Friday. The company’s 50 day simple moving average is $108.71 and its 200 day simple moving average is $96.10. Graham Corporation has a fifty-two week low of $46.58 and a fifty-two week high of $125.82. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 97.61 and a beta of 1.04.

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

Graham Company 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.