GrafTech International (NYSE:EAF) Shares Gap Down to $12.63

GrafTech International Ltd (NYSE:EAF) gapped down prior to trading on Friday . The stock had previously closed at $12.19, but opened at $12.63. GrafTech International shares last traded at $12.37, with a volume of 1,757,455 shares changing hands.

A number of equities research analysts recently issued reports on EAF shares. Zacks Investment Research lowered GrafTech International from a “hold” rating to a “strong sell” rating in a research note on Monday, November 11th. ValuEngine cut GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd.

The firm has a market capitalization of $4.08 billion, a PE ratio of 4.30 and a beta of 1.80. The company has a 50-day moving average price of $13.10 and a 200-day moving average price of $11.91.

GrafTech International (NYSE:EAF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The company had revenue of $420.80 million for the quarter, compared to analysts’ expectations of $441.85 million. GrafTech International had a negative return on equity of 97.65% and a net margin of 41.87%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. On average, research analysts predict that GrafTech International Ltd will post 2.56 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.34 annualized dividend and a dividend yield of 2.76%. GrafTech International’s dividend payout ratio is currently 11.85%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in GrafTech International during the third quarter worth approximately $1,901,000. Man Group plc boosted its stake in GrafTech International by 128.0% in the 3rd quarter. Man Group plc now owns 725,636 shares of the company’s stock worth $9,288,000 after buying an additional 407,335 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in GrafTech International by 99.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,706 shares of the company’s stock valued at $239,000 after buying an additional 9,328 shares during the period. CDAM UK Ltd grew its holdings in GrafTech International by 12.9% in the 3rd quarter. CDAM UK Ltd now owns 2,547,834 shares of the company’s stock valued at $32,612,000 after buying an additional 292,007 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in GrafTech International by 17.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,844,203 shares of the company’s stock valued at $49,205,000 after buying an additional 571,203 shares during the period.

About GrafTech International (NYSE:EAF)

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, ferrous, and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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