King Luther Capital Management Corp increased its stake in shares of Graham Corporation (NYSE:GHM) by 71.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,300 shares of the industrial products company’s stock after buying an additional 30,100 shares during the quarter. King Luther Capital Management Corp owned about 0.74% of Graham worth $1,506,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Graham by 3.2% during the first quarter. Vanguard Group Inc. now owns 361,349 shares of the industrial products company’s stock worth $8,311,000 after buying an additional 11,266 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Graham by 14.4% during the second quarter. Royce & Associates LP now owns 198,887 shares of the industrial products company’s stock worth $3,910,000 after buying an additional 25,000 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Graham by 14.7% during the second quarter. American Century Companies Inc. now owns 413,762 shares of the industrial products company’s stock worth $8,135,000 after buying an additional 52,873 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Graham by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 396,522 shares of the industrial products company’s stock valued at $7,796,000 after purchasing an additional 31,833 shares in the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Graham by 2.1% in the 2nd quarter. Teachers Advisors LLC now owns 16,337 shares of the industrial products company’s stock valued at $321,000 after purchasing an additional 341 shares in the last quarter. 75.03% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered Graham from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th.
Shares of Graham Corporation (GHM) opened at $19.71 on Friday. Graham Corporation has a twelve month low of $17.97 and a twelve month high of $25.00. The firm has a market capitalization of $182.28, a P/E ratio of 38.08 and a beta of 1.04.
Graham (NYSE:GHM) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. Graham had a return on equity of 4.25% and a net margin of 5.31%. The company had revenue of $17.20 million for the quarter, compared to analyst estimates of $16.73 million. During the same quarter in the previous year, the company earned $0.14 EPS. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, November 6th. Graham’s dividend payout ratio is presently 76.60%.
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Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.
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