Geode Capital Management LLC Boosts Stock Position in GrafTech International Ltd. (NYSE:EAF)

Geode Capital Management LLC boosted its stake in shares of GrafTech International Ltd. (NYSE:EAF) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,053,060 shares of the company’s stock after acquiring an additional 59,424 shares during the quarter. Geode Capital Management LLC owned about 1.96% of GrafTech International worth $6,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake in shares of GrafTech International by 55.0% during the third quarter. Public Employees Retirement System of Ohio now owns 51,115 shares of the company’s stock worth $67,000 after acquiring an additional 18,130 shares during the period. Algert Global LLC lifted its position in GrafTech International by 13.3% in the second quarter. Algert Global LLC now owns 164,094 shares of the company’s stock valued at $159,000 after purchasing an additional 19,224 shares during the period. BNP Paribas Financial Markets boosted its holdings in GrafTech International by 19.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 127,831 shares of the company’s stock valued at $169,000 after purchasing an additional 20,769 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in GrafTech International by 30.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 101,449 shares of the company’s stock worth $134,000 after purchasing an additional 23,413 shares during the period. Finally, Foundation Resource Management Inc. increased its position in GrafTech International by 1.3% during the 3rd quarter. Foundation Resource Management Inc. now owns 1,873,481 shares of the company’s stock worth $2,473,000 after purchasing an additional 24,138 shares during the period. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EAF has been the topic of a number of analyst reports. Citigroup lifted their price target on GrafTech International from $1.00 to $2.20 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of GrafTech International from an “underweight” rating to a “neutral” rating in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.80.

GrafTech International Trading Down 1.2 %

Shares of EAF stock opened at $1.70 on Friday. The stock has a market cap of $437.18 million, a P/E ratio of -1.45 and a beta of 0.95. 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 Ltd. has a fifty-two week low of $0.52 and a fifty-two week high of $2.53. The business has a fifty day simple moving average of $1.94 and a 200-day simple moving average of $1.34.

GrafTech International (NYSE:EAF) last posted its earnings results on Tuesday, November 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative net margin of 55.21% and a negative return on equity of 459.99%. The firm had revenue of $130.65 million during the quarter, compared to the consensus estimate of $128.14 million. During the same period last year, the firm posted ($0.08) EPS. On average, analysts forecast 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.