QS Investors LLC lessened its stake in GrafTech International Ltd. (NYSE:EAF) by 63.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 344,900 shares of the company’s stock after selling 589,050 shares during the quarter. QS Investors LLC’s holdings in GrafTech International were worth $4,008,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in GrafTech International by 29.3% during the second quarter. Vanguard Group Inc. now owns 20,639,111 shares of the company’s stock worth $239,826,000 after purchasing an additional 4,674,585 shares during the last quarter. BlackRock Inc. lifted its stake in GrafTech International by 67.0% during the second quarter. BlackRock Inc. now owns 10,868,663 shares of the company’s stock worth $126,294,000 after purchasing an additional 4,361,646 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in GrafTech International during the first quarter worth approximately $105,458,000. FMR LLC lifted its stake in GrafTech International by 661.5% during the second quarter. FMR LLC now owns 8,083,003 shares of the company’s stock worth $93,924,000 after purchasing an additional 7,021,613 shares during the last quarter. Finally, River Road Asset Management LLC lifted its stake in GrafTech International by 8.5% during the second quarter. River Road Asset Management LLC now owns 7,420,274 shares of the company’s stock worth $86,224,000 after purchasing an additional 584,111 shares during the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.
Several research firms recently weighed in on EAF. JPMorgan Chase & Co. restated an “overweight” rating and set a $18.00 target price on shares of GrafTech International in a research note on Wednesday, June 16th. Royal Bank of Canada decreased their target price on GrafTech International from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, August 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded GrafTech International from a “strong sell” rating to a “hold” rating in a research note on Tuesday.
GrafTech International (NYSE:EAF) last released its quarterly earnings results on Friday, August 6th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $330.75 million for the quarter, compared to analyst estimates of $296.35 million. GrafTech International had a negative return on equity of 142.79% and a net margin of 27.48%. On average, sell-side analysts predict that GrafTech International Ltd. will post 1.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Tuesday, August 31st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Monday, August 30th. GrafTech International’s dividend payout ratio (DPR) is 2.47%.
About GrafTech International
GrafTech International Ltd. manufactures graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The firm also produces needle coke products which is a raw material to producing graphite electrodes. Its customers include steel producers and other ferrous and non-ferrous metal producers in Europe, the Middle East and Africa, the Americas and Asia-Pacific, which sell its products into the automotive, construction, appliance, machinery, equipment and transportation industries.
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