Graham Corporation Set To Join Russell 2000® and 3000® Indexes

Rhea-AI Summary

Graham (NYSE: GHM), a global leader in fluid, power, heat transfer, and vacuum technologies, announced its inclusion in the Russell 2000® and Russell 3000® Indexes, effective June 28, 2024. This milestone reflects GHM's progress in boosting revenue growth and profitability. Membership in the Russell 3000® Index signifies automatic inclusion in the small-cap Russell 2000® Index, enhancing GHM's visibility, liquidity, and investor base. The annual Russell indexes reconstitution captures the largest U.S. stocks by market capitalization and is widely used for index funds and investment benchmarks, with approximately $9.1 trillion in assets benchmarked against Russell's U.S. indexes.

Positive

• GHM will be added to the Russell 2000® and Russell 3000® Indexes, increasing visibility and liquidity.
• Inclusion in these indexes could attract a broader range of investors.

Negative

• None.

BATAVIA, N.Y.--(BUSINESS WIRE)-- Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries, today announced it will be added to the Russell 2000® and Russell 3000® Indexes, effective after the close of financial markets on June 28, 2024.

“The inclusion in the Russell Indexes marks another milestone for GHM, recognizing the meaningful progress we have made in executing our strategy to drive revenue growth and enhance profitability,” commented Dan Thoren, President and Chief Executive Officer. “We believe that being part of the Russell indexes will increase our visibility within the investment community, improve our liquidity, and attract a broader range of investors.”

Membership in the U.S. Russell 3000® Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. The annual Russell indexes reconstitution captures the largest U.S. stocks by market capitalization.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9.1 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Graham Corporation

GHM is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “believe,” “will,” and other similar words. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors,” its quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240628660238/en/

Christopher J. Thome

Vice President - Finance and CFO

Phone: (585) 343-2216

Deborah K. Pawlowski

Kei Advisors LLC

Phone: (716) 843-3908

dpawlowski@keiadvisors.com

Source: Graham Corporation

FAQ

When will Graham (GHM) be added to the Russell 2000® and 3000® Indexes?

Graham (GHM) will be added to the Russell 2000® and Russell 3000® Indexes effective after the close of financial markets on June 28, 2024.

What does inclusion in the Russell Indexes mean for Graham (GHM)?

Inclusion in the Russell Indexes will increase Graham 's (GHM) visibility within the investment community, improve liquidity, and attract a broader range of investors.

How does Graham (GHM) benefit from being part of the Russell 3000® Index?

As part of the Russell 3000® Index, Graham (GHM) will automatically be included in the small-cap Russell 2000® Index and other appropriate growth and value style indexes, enhancing its market visibility and investor base.

Why is the Russell Indexes reconstitution important for Graham (GHM)?

The annual reconstitution captures the largest U.S. stocks by market capitalization, and being part of the Russell Indexes helps Graham (GHM) gain recognition and benchmarking against $9.1 trillion in assets.

What industries does Graham (GHM) serve?

Graham (GHM) serves the defense, space, energy, and process industries with its fluid, power, heat transfer, and vacuum technologies.