Walleye Capital LLC lifted its stake in shares of GrafTech International Ltd. (NYSE:EAF – Free Report) by 77.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,280 shares of the company’s stock after purchasing an additional 72,223 shares during the period. Walleye Capital LLC owned approximately 0.63% of GrafTech International worth $1,121,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Intesa Sanpaolo Wealth Management acquired a new stake in GrafTech International during the 4th quarter worth about $31,000. Jefferies Financial Group Inc. purchased a new position in shares of GrafTech International in the fourth quarter worth approximately $157,000. 9823 Capital L.P. acquired a new stake in shares of GrafTech International during the fourth quarter valued at approximately $177,000. Prelude Capital Management LLC purchased a new stake in shares of GrafTech International in the 3rd quarter valued at approximately $192,000. Finally, Caption Management LLC purchased a new stake in shares of GrafTech International in the 3rd quarter valued at approximately $192,000. 92.83% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
EAF has been the topic of several recent analyst reports. Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Zacks Research lowered GrafTech International from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of GrafTech International in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of GrafTech International in a research note on Tuesday, April 14th. Finally, Wall Street Zen raised shares of GrafTech International from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, GrafTech International has an average rating of “Reduce” and an average target price of $10.67.
GrafTech International Trading Up 5.0%
Shares of NYSE:EAF opened at $7.45 on Friday. The firm has a market cap of $194.16 million, a price-to-earnings ratio of -0.86 and a beta of 1.84. GrafTech International Ltd. has a 1 year low of $4.92 and a 1 year high of $20.32. The business has a fifty day simple moving average of $7.67 and a 200 day simple moving average of $9.06.
GrafTech International (NYSE:EAF – Get Free Report) last issued its earnings results on Friday, July 24th. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.01). The business had revenue of $127.36 million during the quarter, compared to analysts’ expectations of $125.02 million. On average, sell-side analysts forecast that GrafTech International Ltd. will post -6.2 EPS for the current year.
About GrafTech International
GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.
With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.
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