State Street Corp Trims Holdings in GrafTech International Ltd. (NYSE:EAF)

State Street Corp lowered its holdings in GrafTech International Ltd. (NYSE:EAF) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,026,337 shares of the company’s stock after selling 86,086 shares during the quarter. State Street Corp owned approximately 1.95% of GrafTech International worth $6,635,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Millennium Management LLC increased its position in shares of GrafTech International by 287.8% during the second quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock valued at $4,914,000 after buying an additional 3,759,449 shares during the period. Foundation Resource Management Inc. lifted its stake in shares of GrafTech International by 1.3% in the 3rd quarter. Foundation Resource Management Inc. now owns 1,873,481 shares of the company’s stock valued at $2,473,000 after purchasing an additional 24,138 shares during the period. Rhumbline Advisers lifted its stake in shares of GrafTech International by 9.5% in the 2nd quarter. Rhumbline Advisers now owns 323,504 shares of the company’s stock valued at $314,000 after purchasing an additional 28,179 shares during the period. Fore Capital LLC boosted its position in shares of GrafTech International by 120.0% during the second quarter. Fore Capital LLC now owns 220,000 shares of the company’s stock valued at $213,000 after purchasing an additional 120,000 shares in the last quarter. Finally, Algert Global LLC raised its holdings in GrafTech International by 13.3% in the second quarter. Algert Global LLC now owns 164,094 shares of the company’s stock worth $159,000 after purchasing an additional 19,224 shares in the last quarter. 92.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of GrafTech International from an “underweight” rating to a “neutral” rating in a research report on Friday, December 6th. Citigroup raised their target price on shares of GrafTech International from $1.00 to $2.20 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $1.80.

GrafTech International Price Performance

Shares of EAF opened at $1.67 on Friday. GrafTech International Ltd. has a twelve month low of $0.52 and a twelve month high of $2.53. The company has a market capitalization of $429.47 million, a P/E ratio of -1.43 and a beta of 0.95. The firm has a 50 day moving average of $1.95 and a 200 day moving average of $1.32. The company has a quick ratio of 1.98, a current ratio of 3.79 and a debt-to-equity ratio of 57.38.

GrafTech International (NYSE:EAF) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative return on equity of 459.99% and a negative net margin of 55.21%. The firm had revenue of $130.65 million during the quarter, compared to analysts’ expectations of $128.14 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, equities research analysts anticipate that GrafTech International Ltd. will post -0.43 earnings per share for the current fiscal year.

GrafTech International Profile

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.