Separately, ValuEngine raised Graham from a hold rating to a buy rating in a report on Saturday, June 2nd.
NYSE GHM opened at $27.67 on Friday. The firm has a market capitalization of $276.26 million, a price-to-earnings ratio of 147.90 and a beta of 0.92. Graham has a 1 year low of $17.97 and a 1 year high of $28.98.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 29th. Shareholders of record on Wednesday, August 15th were paid a dividend of $0.10 per share. This is an increase from Graham’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, August 14th.
In other Graham news, CFO Jeffrey Glajch sold 2,963 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $28.36, for a total transaction of $84,030.68. Following the sale, the chief financial officer now directly owns 55,477 shares of the company’s stock, valued at approximately $1,573,327.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 6,846 shares of company stock worth $189,599. Company insiders own 3.66% of the company’s stock.
A number of large investors have recently made changes to their positions in GHM. Northern Trust Corp raised its stake in Graham by 2.0% during the 1st quarter. Northern Trust Corp now owns 127,556 shares of the industrial products company’s stock valued at $2,732,000 after purchasing an additional 2,515 shares during the period. Dimensional Fund Advisors LP raised its stake in Graham by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 467,982 shares of the industrial products company’s stock valued at $10,024,000 after purchasing an additional 13,344 shares during the period. Emancipation Management LLC raised its stake in Graham by 72.8% during the 1st quarter. Emancipation Management LLC now owns 92,880 shares of the industrial products company’s stock valued at $1,989,000 after purchasing an additional 39,130 shares during the period. Ancora Advisors LLC raised its stake in Graham by 6.7% during the 1st quarter. Ancora Advisors LLC now owns 39,372 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 2,478 shares during the period. Finally, American Capital Management Inc. raised its stake in Graham by 15.6% during the 2nd quarter. American Capital Management Inc. now owns 251,763 shares of the industrial products company’s stock valued at $6,498,000 after purchasing an additional 34,050 shares during the period. 76.49% of the stock is currently owned by institutional investors.
Graham Corporation, together with its subsidiaries, designs, manufactures, and supplies vacuum and heat transfer equipment for the chemical, defense, petrochemical, petroleum refining, electric power generation, and other industries worldwide. It offers heat transfer equipment, including surface condensers, heliflows, water heaters, and various types of heat exchangers, as well as custom-engineered ejectors; and vacuum equipment, such as steam jet ejector vacuum systems and liquid ring vacuum pumps.
Read More: Intrinsic Value and Stock Selection
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