Utah Retirement Systems bought a new position in shares of GrafTech International Ltd (NYSE:EAF) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,800 shares of the company’s stock, valued at approximately $211,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EAF. State of Alaska Department of Revenue purchased a new position in GrafTech International during the third quarter worth about $118,000. Trustcore Financial Services LLC lifted its position in GrafTech International by 620.0% during the third quarter. Trustcore Financial Services LLC now owns 7,200 shares of the company’s stock worth $140,000 after buying an additional 6,200 shares during the period. Public Employees Retirement System of Ohio purchased a new position in GrafTech International during the second quarter worth about $245,000. Cubist Systematic Strategies LLC purchased a new position in GrafTech International during the second quarter worth about $298,000. Finally, Stevens Capital Management LP acquired a new stake in GrafTech International during the second quarter worth about $300,000.
Several equities research analysts have commented on EAF shares. Zacks Investment Research lowered GrafTech International from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. BMO Capital Markets dropped their price target on GrafTech International from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, November 5th. Royal Bank of Canada dropped their price target on GrafTech International from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, November 6th. Finally, Vertical Group lowered GrafTech International from a “buy” rating to a “sell” rating in a research note on Monday, November 12th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.33.
GrafTech International (NYSE:EAF) last announced its quarterly earnings results on Friday, November 2nd. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.11. The company had revenue of $454.90 million during the quarter, compared to analyst estimates of $426.50 million. GrafTech International had a negative return on equity of 160.94% and a net margin of 43.72%. GrafTech International’s quarterly revenue was up 231.3% compared to the same quarter last year. As a group, research analysts anticipate that GrafTech International Ltd will post 2.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, November 30th will be paid a dividend of $0.085 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.34 annualized dividend and a yield of 2.68%.
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GrafTech International Company Profile
GrafTech International Ltd. researches, develops, manufactures, and sells synthetic and natural graphite and carbon based products worldwide. It offers graphite electrodes, which are components of the conductive power systems used to produce steel and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.
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