GrafTech International (NYSE:EAF) Shares Down 9.3%

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GrafTech International Ltd (NYSE:EAF) dropped 9.3% during mid-day trading on Thursday . The company traded as low as $12.23 and last traded at $12.63, approximately 9,929,397 shares changed hands during trading. An increase of 606% from the average daily volume of 1,406,926 shares. The stock had previously closed at $13.93.

Several analysts recently commented on EAF shares. ValuEngine lowered shares of GrafTech International from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Zacks Investment Research downgraded shares of GrafTech International from a “hold” rating to a “strong sell” rating in a research report on Monday, November 11th.

The stock has a 50-day moving average price of $13.10 and a 200 day moving average price of $11.91. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 4.40 and a beta of 1.80.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The business had revenue of $420.80 million during the quarter, compared to analyst estimates of $441.85 million. GrafTech International had a negative return on equity of 97.65% and a net margin of 41.87%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. Sell-side analysts predict that GrafTech International Ltd will post 2.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, November 27th. GrafTech International’s payout ratio is currently 11.85%.

Several institutional investors have recently bought and sold shares of EAF. Cubist Systematic Strategies LLC raised its stake in shares of GrafTech International by 5.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,976 shares of the company’s stock worth $230,000 after buying an additional 954 shares during the period. Robeco Institutional Asset Management B.V. raised its position in GrafTech International by 8.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 14,293 shares of the company’s stock worth $183,000 after acquiring an additional 1,117 shares during the period. Treasurer of the State of North Carolina raised its position in GrafTech International by 4.8% during the second quarter. Treasurer of the State of North Carolina now owns 30,155 shares of the company’s stock worth $347,000 after acquiring an additional 1,380 shares during the period. Financial Gravity Wealth Inc. acquired a new position in GrafTech International during the third quarter worth $26,000. Finally, Advisor Group Inc. lifted its holdings in GrafTech International by 74.8% during the second quarter. Advisor Group Inc. now owns 4,768 shares of the company’s stock valued at $55,000 after purchasing an additional 2,041 shares in the last quarter.

About GrafTech International (NYSE:EAF)

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, ferrous, and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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