Bank of New York Mellon Corp Sells 1,063,015 Shares of GrafTech International Ltd. (NYSE:EAF)

Bank of New York Mellon Corp cut its position in shares of GrafTech International Ltd. (NYSE:EAF) by 56.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 821,123 shares of the company’s stock after selling 1,063,015 shares during the period. Bank of New York Mellon Corp owned about 0.32% of GrafTech International worth $796,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in GrafTech International by 58.4% in the first quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company’s stock worth $35,000 after purchasing an additional 9,416 shares during the last quarter. Welch Group LLC grew its stake in GrafTech International by 71.2% during the 1st quarter. Welch Group LLC now owns 34,243 shares of the company’s stock worth $47,000 after buying an additional 14,243 shares during the last quarter. Aigen Investment Management LP acquired a new position in GrafTech International during the 4th quarter valued at about $49,000. Paloma Partners Management Co purchased a new stake in GrafTech International in the first quarter valued at about $76,000. Finally, RPO LLC purchased a new stake in GrafTech International in the fourth quarter valued at about $85,000. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

GrafTech International Price Performance

Shares of EAF stock opened at $0.88 on Monday. The company has a debt-to-equity ratio of 57.38, a current ratio of 4.22 and a quick ratio of 2.01. The company has a market capitalization of $227.03 million, a PE ratio of -0.81 and a beta of 0.94. The firm’s 50-day moving average is $0.77 and its two-hundred day moving average is $1.23. GrafTech International Ltd. has a 12 month low of $0.52 and a 12 month high of $3.89.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, July 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. GrafTech International had a negative return on equity of 121.77% and a negative net margin of 50.11%. The firm had revenue of $137.33 million during the quarter, compared to the consensus estimate of $122.48 million. Analysts predict that GrafTech International Ltd. will post -0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

EAF has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered shares of GrafTech International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets cut their price target on shares of GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, GrafTech International has a consensus rating of “Hold” and an average target price of $1.75.

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.