Renaissance Technologies LLC Sells 353,838 Shares of GrafTech International Ltd. (NYSE:EAF)

Renaissance Technologies LLC cut its stake in shares of GrafTech International Ltd. (NYSE:EAF - Free Report) by 52.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,262 shares of the company's stock after selling 353,838 shares during the period. Renaissance Technologies LLC owned approximately 0.13% of GrafTech International worth $313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sun Life Financial Inc. bought a new stake in GrafTech International in the 4th quarter valued at $1,843,000. Invenomic Capital Management LP increased its position in GrafTech International by 89.4% during the 1st quarter. Invenomic Capital Management LP now owns 1,456,417 shares of the company's stock worth $2,010,000 after buying an additional 687,595 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of GrafTech International by 60.8% in the second quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company's stock valued at $843,000 after acquiring an additional 328,565 shares during the period. Foundation Resource Management Inc. grew its stake in shares of GrafTech International by 13.8% in the first quarter. Foundation Resource Management Inc. now owns 1,803,484 shares of the company's stock valued at $2,489,000 after acquiring an additional 218,418 shares in the last quarter. Finally, Choreo LLC bought a new position in GrafTech International during the second quarter worth about $155,000. 92.83% of the stock is owned by institutional investors.

GrafTech International Price Performance

Shares of EAF stock traded down $0.01 on Friday, hitting $1.50. 1,910,220 shares of the company's stock were exchanged, compared to its average volume of 3,269,589. GrafTech International Ltd. has a 12 month low of $0.52 and a 12 month high of $3.89. The company has a debt-to-equity ratio of 57.38, a current ratio of 4.22 and a quick ratio of 2.01. The company has a 50 day moving average of $0.91 and a 200 day moving average of $1.21. The stock has a market cap of $385.76 million, a P/E ratio of -1.34 and a beta of 0.98.

GrafTech International (NYSE:EAF - Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. The company had revenue of $137.33 million for the quarter, compared to analyst estimates of $122.48 million. GrafTech International had a negative net margin of 50.11% and a negative return on equity of 121.77%. On average, equities research analysts predict that GrafTech International Ltd. will post -0.43 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on EAF. BMO Capital Markets decreased their target price on shares of GrafTech International from $1.20 to $1.00 and set a "market perform" rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. cut GrafTech International from a "neutral" rating to an "underweight" rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $1.75.

GrafTech International Company Profile

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.