State Street Corp Sells 86,086 Shares of GrafTech International Ltd. (NYSE:EAF)

State Street Corp trimmed its position in shares of GrafTech International Ltd. (NYSE:EAF) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,026,337 shares of the company’s stock after selling 86,086 shares during the quarter. State Street Corp’s holdings in GrafTech International were worth $6,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of EAF. Millennium Management LLC grew its position in GrafTech International by 287.8% during the second quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock valued at $4,914,000 after buying an additional 3,759,449 shares during the period. Choreo LLC bought a new stake in shares of GrafTech International during the 2nd quarter valued at $155,000. Fore Capital LLC increased its stake in shares of GrafTech International by 120.0% in the 2nd quarter. Fore Capital LLC now owns 220,000 shares of the company’s stock worth $213,000 after purchasing an additional 120,000 shares in the last quarter. SG Americas Securities LLC bought a new position in GrafTech International in the 3rd quarter worth $156,000. Finally, Paloma Partners Management Co purchased a new position in GrafTech International during the third quarter valued at $155,000. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

GrafTech International Price Performance

NYSE:EAF opened at $1.67 on Friday. The business’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $1.32. GrafTech International Ltd. has a 52 week low of $0.52 and a 52 week high of $2.53. The stock has a market cap of $429.47 million, a PE ratio of -1.43 and a beta of 0.95. The company has a quick ratio of 1.98, a current ratio of 3.79 and a debt-to-equity ratio of 57.38.

GrafTech International (NYSE:EAF) last issued its earnings results on Tuesday, November 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative return on equity of 459.99% and a negative net margin of 55.21%. The company had revenue of $130.65 million for the quarter, compared to the consensus estimate of $128.14 million. During the same quarter last year, the company earned ($0.08) EPS. As a group, analysts forecast that GrafTech International Ltd. will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on EAF shares. Citigroup upped their price target on GrafTech International from $1.00 to $2.20 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of GrafTech International from an “underweight” rating to a “neutral” rating in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, GrafTech International currently has an average rating of “Hold” and an average target price of $1.80.

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.