Putnam Investments LLC Takes Position in GrafTech International Ltd (EAF)

Putnam Investments LLC purchased a new stake in shares of GrafTech International Ltd (NYSE:EAF) during the 2nd quarter, HoldingsChannel reports. The fund purchased 125,400 shares of the company’s stock, valued at approximately $2,256,000.

A number of other hedge funds have also made changes to their positions in EAF. Boston Partners bought a new position in GrafTech International in the second quarter valued at approximately $138,608,000. Federated Investors Inc. PA bought a new position in GrafTech International in the second quarter valued at approximately $68,574,000. Millennium Management LLC bought a new position in GrafTech International in the second quarter valued at approximately $61,229,000. Indus Capital Partners LLC bought a new position in GrafTech International in the second quarter valued at approximately $40,731,000. Finally, Jennison Associates LLC bought a new position in GrafTech International in the second quarter valued at approximately $38,806,000. 15.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EAF stock opened at $18.76 on Thursday. GrafTech International Ltd has a 52-week low of $14.00 and a 52-week high of $24.36. The company has a debt-to-equity ratio of -2.19, a current ratio of 2.56 and a quick ratio of 1.63.

GrafTech International (NYSE:EAF) last announced its quarterly earnings data on Friday, August 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $456.30 million for the quarter, compared to analysts’ expectations of $417.00 million. GrafTech International had a net margin of 38.52% and a negative return on equity of 1,837.51%. The firm’s revenue was up 292.3% on a year-over-year basis. analysts predict that GrafTech International Ltd will post 2.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be issued a $0.085 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.34 annualized dividend and a yield of 1.81%.

A number of equities analysts have issued reports on EAF shares. Vertical Research started coverage on shares of GrafTech International in a research note on Wednesday, August 1st. They issued a “buy” rating and a $29.00 price objective on the stock. Vertical Group started coverage on shares of GrafTech International in a research note on Wednesday, August 1st. They issued a “buy” rating on the stock. Finally, BMO Capital Markets raised their price objective on shares of GrafTech International from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, August 6th. Seven investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $26.60.

In other GrafTech International news, Director Gp Ltd Bcp sold 34,688,311 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $19.75, for a total value of $685,094,142.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

GrafTech International Company Profile

GrafTech International Ltd. researches, develops, manufactures, and sells synthetic and natural graphite and carbon based products worldwide. It offers graphite electrodes, which are components of the conductive power systems used to produce steel and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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

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