GrafTech International (EAF) Hits New 52-Week Low at $12.85

GrafTech International Ltd (NYSE:EAF)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $12.85 and last traded at $13.22, with a volume of 45308 shares traded. The stock had previously closed at $14.73.

A number of equities analysts recently issued reports 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 reduced their target price 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 reduced their target price 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 research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $25.33.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, November 2nd. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.11. The business 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%. The company’s revenue was up 231.3% compared to the same quarter last year. On average, research analysts predict that GrafTech International Ltd will post 2.85 earnings per share for the current fiscal year.

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.68%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new position in shares of GrafTech International during the 3rd quarter valued at about $118,000. Trustcore Financial Services LLC raised its stake in shares of GrafTech International by 620.0% during the 3rd quarter. Trustcore Financial Services LLC now owns 7,200 shares of the company’s stock valued at $140,000 after buying an additional 6,200 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of GrafTech International during the 3rd quarter valued at about $195,000. Amalgamated Bank purchased a new position in shares of GrafTech International during the 3rd quarter valued at about $205,000. Finally, Utah Retirement Systems purchased a new position in shares of GrafTech International during the 3rd quarter valued at about $211,000.

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About GrafTech International (NYSE:EAF)

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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