Graham (NYSE:GHM) Coverage Initiated at Maxim Group

Analysts at Maxim Group started coverage on shares of Graham (NYSE:GHM) in a research report issued on Thursday, April 18th, MarketBeat.com reports. The firm set a “buy” rating and a $27.00 price target on the industrial products company’s stock. Maxim Group’s price objective would suggest a potential upside of 33.00% from the company’s current price.

Shares of GHM traded down $0.37 during trading hours on Thursday, reaching $20.30. The stock had a trading volume of 5,665 shares, compared to its average volume of 16,844. Graham has a 12 month low of $19.00 and a 12 month high of $28.98. The stock has a market capitalization of $203.27 million, a price-to-earnings ratio of 40.53 and a beta of 0.93.

In related news, insider James R. Lines sold 5,066 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.96, for a total transaction of $111,249.36. Following the completion of the transaction, the insider now directly owns 108,472 shares of the company’s stock, valued at approximately $2,382,045.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer R. Condame sold 2,678 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $22.20, for a total value of $59,451.60. Following the transaction, the chief accounting officer now directly owns 26,295 shares of the company’s stock, valued at $583,749. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in GHM. BlackRock Inc. raised its position in Graham by 1.2% during the 3rd quarter. BlackRock Inc. now owns 667,934 shares of the industrial products company’s stock worth $18,816,000 after purchasing an additional 7,817 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Graham by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 479,919 shares of the industrial products company’s stock worth $13,519,000 after acquiring an additional 13,143 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Graham during the 3rd quarter worth about $638,000. Renaissance Technologies LLC grew its holdings in Graham by 6.4% during the 3rd quarter. Renaissance Technologies LLC now owns 356,500 shares of the industrial products company’s stock worth $10,043,000 after acquiring an additional 21,400 shares during the period. Finally, MetLife Investment Advisors LLC grew its holdings in Graham by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 7,497 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 2,665 shares during the period. 76.61% of the stock is owned by institutional investors and hedge funds.

About Graham

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.

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