Renaissance Technologies LLC Takes Position in GrafTech International Ltd. $EAF

Renaissance Technologies LLC purchased a new stake in GrafTech International Ltd. (NYSE:EAFFree Report) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 121,344 shares of the company’s stock, valued at approximately $823,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Walleye Capital LLC boosted its stake in GrafTech International by 77.6% during the first quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock worth $1,121,000 after buying an additional 72,223 shares during the last quarter. Barclays PLC raised its holdings in shares of GrafTech International by 6,249.2% during the 4th quarter. Barclays PLC now owns 20,000 shares of the company’s stock worth $310,000 after acquiring an additional 19,685 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of GrafTech International during the 4th quarter worth $281,000. Bank of America Corp DE boosted its position in shares of GrafTech International by 70.4% during the 2nd quarter. Bank of America Corp DE now owns 232,779 shares of the company’s stock valued at $226,000 after acquiring an additional 96,174 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of GrafTech International during the 2nd quarter valued at about $197,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.

GrafTech International Trading Down 3.2%

NYSE EAF opened at $7.54 on Friday. The stock has a market cap of $196.67 million, a PE ratio of -1.11 and a beta of 1.83. GrafTech International Ltd. has a twelve month low of $4.92 and a twelve month high of $20.32. The stock has a fifty day simple moving average of $7.12 and a 200-day simple moving average of $8.02.

GrafTech International (NYSE:EAFGet Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.46) by ($0.01). The company had revenue of $127.36 million for the quarter, compared to analysts’ expectations of $125.02 million. Research analysts predict that GrafTech International Ltd. will post -6.45 EPS for the current year.

Wall Street Analyst Weigh In

EAF has been the subject of several recent analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $10.00 price objective on shares of GrafTech International in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of GrafTech International from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. BMO Capital Markets increased their price target on shares of GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Finally, Zacks Research downgraded shares of GrafTech International from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $10.67.

Check Out Our Latest Stock Analysis on EAF

GrafTech International Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding EAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GrafTech International Ltd. (NYSE:EAFFree Report).

Institutional Ownership by Quarter for GrafTech International (NYSE:EAF)

Receive News & Ratings for GrafTech International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GrafTech International and related companies with MarketBeat.com's FREE daily email newsletter.