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Graham CEO explains downturn in stock price

By Howard B. Owens
Nov 9, 2008, 10:37am

About 80 analysts gathered outside Buffalo yesterday to hear pitches from a number of Western New York companies about the soundness of their investments, according to the D&C.

Among those attending, Graham Corp. The Batavia-based company has seen it's stock slide from a 52-week high of $54.91 to close Friday at $13.90.

Graham, a regular presenter at the conference, has seen its stock fall sharply in recent weeks as oil prices plunged. The company makes vital equipment for the oil refining and petrochemical industries.

"This isn't a Graham problem," said CEO James Lines. "The whole energy sector fell out of favor."

Lines told investors that the long-term prospects of the energy industry are strong, pointing to plans for 17 refineries in China alone.

Gabor Deutsch

I doubt the recent price plunge of oil stocks would cause Grahm Corp.'s holdings or stock to tank. They just got a grant ? Lets face it everyone is cutting jobs, but either someone dumped some major stock or its a buyers market .
We all still need oil no matter how cheap it gets.
Until we can afford to go green, buy, buy, BUY !

Nov 9, 2008, 5:02pm Permalink

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