Prescott Group Capital Management L.L.C. cut its stake in shares of GrafTech International Ltd. (NYSE:EAF – Free Report) by 56.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,499 shares of the company’s stock after selling 120,568 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in GrafTech International were worth $782,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of GrafTech International in the 1st quarter worth $823,000. Walleye Capital LLC grew its position in GrafTech International by 77.6% during the first quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock valued at $1,121,000 after acquiring an additional 72,223 shares during the period. Bank of New York Mellon Corp purchased a new stake in GrafTech International during the second quarter valued at about $251,000. Engineers Gate Manager LP acquired a new stake in GrafTech International during the second quarter worth about $190,000. Finally, Ramsey Quantitative Systems acquired a new stake in GrafTech International during the second quarter worth about $69,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently issued reports on EAF. Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. Royal Bank Of Canada boosted their price objective on shares of GrafTech International from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 15th. Wall Street Zen raised shares of GrafTech International from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research raised shares of GrafTech International from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $10.00.
View Our Latest Analysis on EAF
GrafTech International Trading Up 2.8%
EAF stock opened at $11.64 on Wednesday. GrafTech International Ltd. has a 1 year low of $4.92 and a 1 year high of $19.72. The stock has a 50-day simple moving average of $8.54 and a 200-day simple moving average of $8.42.
GrafTech International (NYSE:EAF – Get Free Report) last released its quarterly earnings results on Friday, October 23rd. The company reported ($1.21) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.17. The company had revenue of $140.16 million for the quarter, compared to analyst estimates of $126.73 million. On average, research analysts expect that GrafTech International Ltd. will post -5.87 earnings per share for the current fiscal year.
GrafTech International Profile
GrafTech International Ltd. (NYSE:EAF) manufactures graphite electrodes and related products used primarily in electric arc furnace steelmaking. Its products conduct electricity and generate the intense heat required to melt steel scrap and other metallic materials, making them important consumables for steel producers.
The company’s product portfolio includes ultra-high-power, high-power and regular-power graphite electrodes, as well as specialty graphite products for industrial applications.
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