Bank of America Corp DE Acquires 70,978 Shares of GrafTech International Ltd. (NYSE:EAF)

Bank of America Corp DE increased its stake in shares of GrafTech International Ltd. (NYSE:EAF) by 43.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,166 shares of the company’s stock after buying an additional 70,978 shares during the quarter. Bank of America Corp DE’s holdings in GrafTech International were worth $409,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EAF. Cibc World Markets Corp purchased a new stake in shares of GrafTech International during the 4th quarter worth about $42,000. Beaconlight Capital LLC acquired a new position in shares of GrafTech International during the 4th quarter worth about $57,000. EntryPoint Capital LLC purchased a new position in GrafTech International in the 4th quarter worth approximately $73,000. Two Sigma Securities LLC purchased a new position in GrafTech International in the 4th quarter worth approximately $108,000. Finally, Tyler Stone Wealth Management lifted its stake in GrafTech International by 24.5% in the 4th quarter. Tyler Stone Wealth Management now owns 76,100 shares of the company’s stock worth $132,000 after purchasing an additional 15,000 shares in the last quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Stock Performance

Shares of EAF stock opened at $1.20 on Friday. The company has a quick ratio of 1.98, a current ratio of 4.55 and a debt-to-equity ratio of 57.38. GrafTech International Ltd. has a 52 week low of $0.52 and a 52 week high of $2.53. The stock has a market capitalization of $308.45 million, a PE ratio of -2.34 and a beta of 1.53. The firm has a 50 day moving average of $0.83 and a two-hundred day moving average of $1.23.

GrafTech International (NYSE:EAF) last issued its quarterly earnings results on Friday, April 25th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. GrafTech International had a negative net margin of 24.34% and a negative return on equity of 709.85%. The company had revenue of $111.84 million during the quarter, compared to analysts’ expectations of $122.33 million. During the same quarter last year, the company posted ($0.10) EPS. On average, research analysts predict that GrafTech International Ltd. will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling at GrafTech International

In other GrafTech International news, Director Jean-Marc Germain purchased 50,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was bought at an average price of $0.78 per share, with a total value of $39,000.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $70,200. This represents a 125.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their price target on shares of GrafTech International from $1.50 to $0.80 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, GrafTech International currently has a consensus rating of “Hold” and a consensus price target of $1.63.

GrafTech International 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.