Millennium Management LLC Buys 3,759,449 Shares of GrafTech International Ltd. (NYSE:EAF)

Millennium Management LLC lifted its position in shares of GrafTech International Ltd. (NYSE:EAF) by 287.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,065,715 shares of the company’s stock after acquiring an additional 3,759,449 shares during the quarter. Millennium Management LLC owned approximately 1.97% of GrafTech International worth $4,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Invenomic Capital Management LP grew 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 acquiring an additional 687,595 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in GrafTech International by 60.8% during the second quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company’s stock worth $843,000 after acquiring an additional 328,565 shares in the last quarter. Foundation Resource Management Inc. increased its position in GrafTech International by 13.8% during the 1st quarter. Foundation Resource Management Inc. now owns 1,803,484 shares of the company’s stock valued at $2,489,000 after buying an additional 218,418 shares in the last quarter. Choreo LLC purchased a new stake in GrafTech International during the 2nd quarter valued at about $155,000. Finally, O Keefe Stevens Advisory Inc. increased its position in shares of GrafTech International by 9.6% during the second quarter. O Keefe Stevens Advisory Inc. now owns 1,808,368 shares of the company’s stock valued at $1,754,000 after acquiring an additional 157,776 shares in the last quarter. Institutional investors own 92.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. downgraded GrafTech International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $1.75.

GrafTech International Trading Down 0.7 %

Shares of NYSE:EAF opened at $1.50 on Friday. GrafTech International Ltd. has a 52-week low of $0.52 and a 52-week high of $3.89. The stock has a market cap of $385.76 million, a price-to-earnings ratio of -1.34 and a beta of 0.98. The company has a quick ratio of 2.01, a current ratio of 4.22 and a debt-to-equity ratio of 57.38. The business has a 50-day moving average price of $0.91 and a 200-day moving average price of $1.21.

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

About GrafTech International

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.