Graham (NYSE:GHM) released its quarterly earnings results on Thursday. The industrial products company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04, MarketWatch Earnings reports. Graham had a negative net margin of 9.81% and a positive return on equity of 3.00%. The company had revenue of $21.44 million during the quarter. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Graham updated its FY 2019 guidance to EPS.
GHM traded down $0.07 during trading on Friday, hitting $26.25. 29,100 shares of the stock traded hands, compared to its average volume of 30,663. Graham has a twelve month low of $17.97 and a twelve month high of $28.98. The company has a market cap of $244.31 million, a P/E ratio of 75.30 and a beta of 1.00.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.52%.
In other Graham news, CFO Jeffrey Glajch sold 3,583 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $27.25, for a total transaction of $97,636.75. Following the completion of the transaction, the chief financial officer now directly owns 56,806 shares in the company, valued at $1,547,963.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 6,846 shares of company stock valued at $189,599. Company insiders own 3.66% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Graham by 1.2% during the third quarter. BlackRock Inc. now owns 667,934 shares of the industrial products company’s stock valued at $18,816,000 after purchasing an additional 7,817 shares in the last quarter. Thomson Horstmann & Bryant Inc. raised its position in Graham by 2.1% during the third quarter. Thomson Horstmann & Bryant Inc. now owns 584,343 shares of the industrial products company’s stock valued at $16,460,000 after purchasing an additional 11,938 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in Graham by 4.2% during the second quarter. Deprince Race & Zollo Inc. now owns 534,443 shares of the industrial products company’s stock valued at $13,794,000 after purchasing an additional 21,754 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Graham by 2.9% during the first 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 in the last quarter. Finally, Royce & Associates LP raised its position in Graham by 11.1% during the second quarter. Royce & Associates LP now owns 385,853 shares of the industrial products company’s stock valued at $9,959,000 after purchasing an additional 38,700 shares in the last quarter. Institutional investors and hedge funds own 77.22% of the company’s stock.
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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