Graham (NYSE:GHM) released its quarterly earnings results on Thursday. The industrial products company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10), Morningstar.com reports. The firm had revenue of $23.64 million for the quarter. Graham had a positive return on equity of 4.79% and a negative net margin of 0.34%. Graham updated its FY 2020 guidance to EPS.
Graham stock opened at $20.41 on Friday. The stock has a market cap of $200.81 million, a PE ratio of 39.27 and a beta of 0.93. Graham has a one year low of $18.96 and a one year high of $28.98.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. Graham’s dividend payout ratio is currently 78.43%.
In related news, insider James R. Lines sold 5,066 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.96, for a total value of $111,249.36. Following the completion of the transaction, the insider now owns 108,472 shares in the company, valued at approximately $2,382,045.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer R. Condame sold 2,678 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $22.20, for a total transaction of $59,451.60. Following the completion of the transaction, the chief accounting officer now owns 26,295 shares of the company’s stock, valued at approximately $583,749. The disclosure for this sale can be found here. Corporate insiders own 3.66% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its position in Graham by 589.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,006 shares of the industrial products company’s stock valued at $39,000 after buying an additional 1,715 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in Graham by 368.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,389 shares of the industrial products company’s stock valued at $77,000 after buying an additional 2,665 shares in the last quarter. MetLife Investment Advisors LLC grew its position in Graham by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 7,497 shares of the industrial products company’s stock valued at $211,000 after buying an additional 2,665 shares in the last quarter. Bank of America Corp DE grew its position in Graham by 41.3% in the 4th quarter. Bank of America Corp DE now owns 8,913 shares of the industrial products company’s stock valued at $203,000 after buying an additional 2,603 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in Graham in the 1st quarter valued at about $213,000. Hedge funds and other institutional investors own 76.69% of the company’s stock.
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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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