Patten & Patten Inc. TN Has $226,000 Stake in GrafTech International Ltd. (NYSE:EAF)

Patten & Patten Inc. TN decreased its position in shares of GrafTech International Ltd. (NYSE:EAF) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,270 shares of the company’s stock after selling 9,765 shares during the period. Patten & Patten Inc. TN’s holdings in GrafTech International were worth $226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in GrafTech International by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 23,925,413 shares of the company’s stock worth $230,163,000 after acquiring an additional 1,237,154 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of GrafTech International by 12.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 22,971,588 shares of the company’s stock valued at $87,981,000 after buying an additional 2,618,477 shares during the last quarter. BlackRock Inc. raised its position in shares of GrafTech International by 5.6% during the second quarter. BlackRock Inc. now owns 13,494,013 shares of the company’s stock valued at $68,010,000 after buying an additional 716,235 shares during the last quarter. Yacktman Asset Management LP raised its position in shares of GrafTech International by 0.9% during the third quarter. Yacktman Asset Management LP now owns 9,342,157 shares of the company’s stock valued at $35,780,000 after buying an additional 85,681 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of GrafTech International during the fourth quarter valued at about $39,465,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

GrafTech International Stock Performance

NYSE EAF opened at $1.53 on Thursday. The stock has a market cap of $391.67 million, a P/E ratio of -1.53 and a beta of 1.14. The company’s 50-day simple moving average is $1.49 and its 200 day simple moving average is $2.28. GrafTech International Ltd. has a twelve month low of $1.18 and a twelve month high of $5.32. The company has a quick ratio of 1.81, a current ratio of 3.54 and a debt-to-equity ratio of 11.90.

GrafTech International (NYSE:EAF) last posted its earnings results on Wednesday, February 14th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.13). The business had revenue of $137.10 million during the quarter, compared to the consensus estimate of $141.20 million. GrafTech International had a negative net margin of 41.14% and a negative return on equity of 39.57%. The business’s revenue was down 44.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. As a group, research analysts forecast that GrafTech International Ltd. will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EAF. BMO Capital Markets cut their price objective on shares of GrafTech International from $2.00 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, February 15th. UBS Group began coverage on shares of GrafTech International in a research report on Tuesday, January 16th. They set a “neutral” rating and a $2.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of GrafTech International from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Finally, Citigroup cut their price objective on shares of GrafTech International from $4.00 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.88.

GrafTech International Company Profile

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.