Foundation Resource Management Inc. raised its position in GrafTech International Ltd. (NYSE:EAF – Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,623,918 shares of the company’s stock after buying an additional 76,257 shares during the quarter. GrafTech International comprises about 1.4% of Foundation Resource Management Inc.’s portfolio, making the stock its 25th largest position. Foundation Resource Management Inc. owned about 0.63% of GrafTech International worth $8,185,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in EAF. Tower Research Capital LLC TRC lifted its stake in GrafTech International by 101.5% during the first quarter. Tower Research Capital LLC TRC now owns 5,339 shares of the company’s stock worth $26,000 after purchasing an additional 2,690 shares during the last quarter. Quantbot Technologies LP bought a new position in GrafTech International in the first quarter valued at about $29,000. Robeco Institutional Asset Management B.V. bought a new position in GrafTech International in the first quarter valued at about $40,000. Toronto Dominion Bank acquired a new position in GrafTech International during the first quarter worth about $49,000. Finally, CI Private Wealth LLC bought a new position in shares of GrafTech International in the fourth quarter worth about $49,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on EAF shares. BMO Capital Markets lowered their price objective on shares of GrafTech International from $5.00 to $4.50 and set a “market perform” rating for the company in a research report on Monday, August 7th. JPMorgan Chase & Co. assumed coverage on GrafTech International in a research report on Tuesday, May 23rd. They set a “neutral” rating on the stock.
GrafTech International Trading Down 7.0 %
EAF traded down $0.27 during trading on Tuesday, reaching $3.61. 652,512 shares of the company’s stock were exchanged, compared to its average volume of 1,545,326. The firm has a fifty day moving average price of $4.21 and a two-hundred day moving average price of $4.54. The stock has a market capitalization of $927.08 million, a PE ratio of 7.32 and a beta of 1.42. GrafTech International Ltd. has a one year low of $3.32 and a one year high of $6.74. The company has a current ratio of 4.10, a quick ratio of 1.70 and a debt-to-equity ratio of 2.90.
GrafTech International (NYSE:EAF – Get Free Report) last announced its earnings results on Friday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). GrafTech International had a return on equity of 40.42% and a net margin of 14.68%. The company had revenue of $185.60 million for the quarter, compared to the consensus estimate of $177.18 million. During the same period in the prior year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was down 49.0% on a year-over-year basis. As a group, equities research analysts forecast that GrafTech International Ltd. will post -0.13 earnings per share for the current fiscal 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.
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