Olstein Capital Management L.P. Cuts Stake in Graham Co. (NYSE:GHM)

Olstein Capital Management L.P. decreased its stake in Graham Co. (NYSE:GHM) by 29.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,500 shares of the industrial products company’s stock after selling 10,500 shares during the quarter. Olstein Capital Management L.P.’s holdings in Graham were worth $1,134,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GHM. Geode Capital Management LLC boosted its holdings in Graham by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 233,122 shares of the industrial products company’s stock worth $6,900,000 after acquiring an additional 2,952 shares during the period. Essex Investment Management Co. LLC lifted its position in shares of Graham by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 190,253 shares of the industrial products company’s stock worth $5,630,000 after purchasing an additional 620 shares in the last quarter. State Street Corp boosted its stake in shares of Graham by 22.6% in the third quarter. State Street Corp now owns 158,611 shares of the industrial products company’s stock valued at $4,693,000 after purchasing an additional 29,277 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Graham by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,966 shares of the industrial products company’s stock valued at $1,893,000 after purchasing an additional 9,466 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Graham by 285.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,980 shares of the industrial products company’s stock worth $1,153,000 after buying an additional 28,863 shares during the period. Institutional investors and hedge funds own 69.46% of the company’s stock.

Graham Price Performance

Shares of GHM stock opened at $46.77 on Friday. The company’s fifty day moving average price is $44.00 and its two-hundred day moving average price is $35.38. The firm has a market capitalization of $509.27 million, a P/E ratio of 65.87 and a beta of 0.73. Graham Co. has a 12 month low of $18.90 and a 12 month high of $49.28.

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

Graham Company Profile

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.