Clear Harbor Asset Management LLC Sells 848,290 Shares of GrafTech International Ltd. (NYSE:EAF)

Clear Harbor Asset Management LLC trimmed its stake in shares of GrafTech International Ltd. (NYSE:EAF - Free Report) by 97.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,500 shares of the company's stock after selling 848,290 shares during the period. Clear Harbor Asset Management LLC's holdings in GrafTech International were worth $27,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in GrafTech International by 58.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company's stock worth $35,000 after purchasing an additional 9,416 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of GrafTech International during the 1st quarter worth about $76,000. Quadrature Capital Ltd raised its position in shares of GrafTech International by 11.3% in the 1st quarter. Quadrature Capital Ltd now owns 81,219 shares of the company's stock valued at $113,000 after acquiring an additional 8,271 shares during the period. Fore Capital LLC boosted its stake in GrafTech International by 25.0% during the 1st quarter. Fore Capital LLC now owns 100,000 shares of the company's stock worth $138,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in GrafTech International by 396.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,200 shares of the company's stock valued at $144,000 after purchasing an additional 83,209 shares during the period. 92.83% of the stock is owned by institutional investors.

GrafTech International Stock Performance

NYSE EAF traded up $0.12 on Monday, hitting $2.09. 1,501,343 shares of the stock were exchanged, compared to its average volume of 3,162,085. The company has a market capitalization of $537.49 million, a PE ratio of -1.87 and a beta of 0.98. 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 business's fifty day moving average is $1.13 and its 200 day moving average is $1.22. GrafTech International Ltd. has a 52 week low of $0.52 and a 52 week high of $3.54.

GrafTech International (NYSE:EAF - Get Free Report) last issued its 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 business had revenue of $137.33 million during the quarter, compared to the consensus estimate of $122.48 million. GrafTech International had a negative net margin of 50.11% and a negative return on equity of 121.77%. Research analysts anticipate that GrafTech International Ltd. will post -0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

GrafTech International 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.