GrafTech International Ltd. (NYSE:EAF – Get Rating)’s share price gapped down before the market opened on Monday after BMO Capital Markets lowered their price target on the stock from $9.00 to $7.00. The stock had previously closed at $5.30, but opened at $4.91. GrafTech International shares last traded at $4.79, with a volume of 48,322 shares.
Several other brokerages have also issued reports on EAF. Credit Suisse Group decreased their price target on GrafTech International from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 9th. Citigroup cut their price objective on GrafTech International from $10.00 to $7.50 in a report on Tuesday, August 9th. Finally, Royal Bank of Canada downgraded GrafTech International from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $10.00 to $7.00 in a report on Wednesday, July 13th.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in GrafTech International by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 23,925,413 shares of the company’s stock valued at $230,163,000 after buying an additional 1,237,154 shares in the last quarter. FMR LLC increased its position in GrafTech International by 7.5% in the 2nd quarter. FMR LLC now owns 22,548,348 shares of the company’s stock valued at $159,418,000 after buying an additional 1,567,468 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in GrafTech International by 13.1% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,310,391 shares of the company’s stock valued at $58,754,000 after buying an additional 963,498 shares in the last quarter. Yacktman Asset Management LP increased its position in GrafTech International by 0.4% in the 1st quarter. Yacktman Asset Management LP now owns 5,160,328 shares of the company’s stock valued at $49,642,000 after buying an additional 19,141 shares in the last quarter. Finally, State Street Corp increased its position in GrafTech International by 2.2% in the 1st quarter. State Street Corp now owns 3,952,107 shares of the company’s stock valued at $38,019,000 after buying an additional 86,085 shares in the last quarter. 87.04% of the stock is owned by institutional investors.
GrafTech International Price Performance
The company has a current ratio of 2.73, a quick ratio of 1.29 and a debt-to-equity ratio of 4.77. The business has a fifty day simple moving average of $6.66 and a 200 day simple moving average of $8.10. The stock has a market capitalization of $1.25 billion, a P/E ratio of 2.56 and a beta of 1.11.
GrafTech International (NYSE:EAF – Get Rating) last announced its earnings results on Friday, August 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. GrafTech International had a return on equity of 807.51% and a net margin of 34.75%. The firm had revenue of $363.60 million for the quarter, compared to the consensus estimate of $370.67 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, analysts expect that GrafTech International Ltd. will post 1.68 earnings per share for the current year.
GrafTech International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.84%. GrafTech International’s dividend payout ratio is presently 2.11%.
GrafTech International Company Profile
GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. It 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.
