JPMorgan Chase & Co. Begins Coverage on GrafTech International (NYSE:EAF)

JPMorgan Chase & Co. initiated coverage on shares of GrafTech International (NYSE:EAF – Get Rating) in a research note published on Tuesday morning, The Fly reports. The brokerage issued a neutral rating on the stock.

Separately, Citigroup cut their price objective on shares of GrafTech International from $6.00 to $5.00 in a research report on Sunday, April 30th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, GrafTech International has a consensus rating of Hold and an average target price of $7.00.

GrafTech International Stock Up 1.3 %

GrafTech International stock opened at $4.63 on Tuesday. GrafTech International has a 1-year low of $3.75 and a 1-year high of $9.27. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 4.77 and a beta of 1.36. The firm’s fifty day moving average price is $4.59 and its two-hundred day moving average price is $5.06. The company has a current ratio of 3.84, a quick ratio of 1.47 and a debt-to-equity ratio of 2.81.

GrafTech International (NYSE:EAF – Get Rating) last announced its earnings results on Friday, April 28th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). GrafTech International had a net margin of 23.86% and a return on equity of 87.51%. The firm had revenue of $138.80 million during the quarter, compared to analysts’ expectations of $123.00 million. During the same quarter in the prior year, the company earned $0.48 EPS. The business’s revenue for the quarter was down 62.1% on a year-over-year basis.

GrafTech International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, May 30th. GrafTech International’s payout ratio is currently 4.12%.

Institutional Investors Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EAF. Renaissance Technologies LLC raised its holdings in GrafTech International by 540.8% during the 3rd quarter. Renaissance Technologies LLC now owns 1,937,900 shares of the company’s stock valued at $8,352,000 after buying an additional 1,635,500 shares during the period. ProShare Advisors LLC grew its stake in shares of GrafTech International by 16.7% during the fourth quarter. ProShare Advisors LLC now owns 24,939 shares of the company’s stock worth $119,000 after acquiring an additional 3,572 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in GrafTech International by 27.7% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 10,608,361 shares of the company’s stock valued at $45,722,000 after buying an additional 2,297,970 shares during the last quarter. Putnam Investments LLC boosted its position in GrafTech International by 412.4% in the third quarter. Putnam Investments LLC now owns 252,046 shares of the company’s stock valued at $1,086,000 after buying an additional 202,852 shares during the last quarter. Finally, Level Four Advisory Services LLC lifted its holdings in GrafTech International by 19.0% in the third quarter. Level Four Advisory Services LLC now owns 319,081 shares of the company’s stock valued at $1,375,000 after acquiring an additional 50,907 shares during the period. 88.74% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Company Profile

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GrafTech International Ltd. engages in the manufacture of graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The firm also produces a needle coke product which is a raw material in 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.