Invenomic Capital Management LP reduced its stake in shares of GrafTech International Ltd. (NYSE:EAF - Free Report) by 16.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,660,275 shares of the company's stock after selling 322,672 shares during the period. Invenomic Capital Management LP owned 0.65% of GrafTech International worth $2,192,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of EAF. Public Employees Retirement System of Ohio lifted its stake in shares of GrafTech International by 58.4% during the first quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company's stock valued at $35,000 after buying an additional 9,416 shares during the period. Tyler Stone Wealth Management lifted its stake in shares of GrafTech International by 113.3% during the 3rd quarter. Tyler Stone Wealth Management now owns 61,100 shares of the company's stock worth $81,000 after purchasing an additional 32,450 shares during the period. Intech Investment Management LLC acquired a new stake in shares of GrafTech International during the third quarter worth $81,000. XTX Topco Ltd grew its position in shares of GrafTech International by 179.6% in the second quarter. XTX Topco Ltd now owns 135,485 shares of the company's stock valued at $131,000 after purchasing an additional 87,027 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of GrafTech International by 30.0% in the third quarter. The Manufacturers Life Insurance Company now owns 101,449 shares of the company's stock valued at $134,000 after purchasing an additional 23,413 shares during the period. 92.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Citigroup increased their target price on GrafTech International from $1.00 to $2.20 and gave the stock a "neutral" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, GrafTech International has an average rating of "Hold" and an average target price of $1.80.
Check Out Our Latest Stock Analysis on EAF
GrafTech International Trading Down 7.9 %
Shares of EAF traded down $0.17 during mid-day trading on Wednesday, reaching $1.98. The company had a trading volume of 1,316,051 shares, compared to its average volume of 3,031,451. GrafTech International Ltd. has a fifty-two week low of $0.52 and a fifty-two week high of $2.76. The firm has a fifty day simple moving average of $1.81 and a 200-day simple moving average of $1.29. The stock has a market cap of $509.20 million, a price-to-earnings ratio of -1.83 and a beta of 0.95. The company has a current ratio of 3.79, a quick ratio of 1.98 and a debt-to-equity ratio of 57.38.
GrafTech International (NYSE:EAF - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. The firm had revenue of $130.65 million for the quarter, compared to analysts' expectations of $128.14 million. GrafTech International had a negative return on equity of 459.99% and a negative net margin of 55.21%. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts anticipate that GrafTech International Ltd. will post -0.43 EPS for the current fiscal year.
About GrafTech International
(
Free Report)
GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company 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 and synthetic graphite.
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