Zacks Investment Research upgraded shares of GrafTech International (NYSE:EAF) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $20.00 price objective on the stock.
According to Zacks, “GrafTech International Ltd. manufactures and provides natural and synthetic graphite and carbon based products and services. The Company offers graphite electrodes, petroleum needle coke, crystalline form of carbon and energy solutions for manufacture of steel, aluminum, silicon metal, automotive products and electronics. GrafTech International Ltd. is based in Independence, United States. “
A number of other equities analysts have also recently commented on the company. BMO Capital Markets lifted their target price on GrafTech International from $25.00 to $28.00 and gave the stock an outperform rating in a report on Monday, August 6th. Vertical Group started coverage on GrafTech International in a report on Wednesday, August 1st. They issued a buy rating for the company. Vertical Research started coverage on GrafTech International in a report on Wednesday, August 1st. They issued a buy rating and a $29.00 target price for the company. Finally, Royal Bank of Canada dropped their target price on GrafTech International from $25.00 to $24.00 and set an outperform rating for the company in a report on Tuesday. Eight equities research analysts have rated the stock with a buy rating, GrafTech International currently has a consensus rating of Buy and an average price target of $25.33.
NYSE EAF traded down $1.04 during trading on Tuesday, hitting $16.08. 1,531,490 shares of the stock traded hands, compared to its average volume of 1,305,650. GrafTech International has a 12-month low of $14.00 and a 12-month high of $24.36.
GrafTech International (NYSE:EAF) last released its quarterly earnings results on Friday, November 2nd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The business had revenue of $454.90 million during the quarter, compared to analysts’ expectations of $426.50 million. GrafTech International had a negative return on equity of 160.94% and a net margin of 43.72%. The company’s quarterly revenue was up 231.3% compared to the same quarter last year. As a group, research analysts forecast that GrafTech International will post 2.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, November 29th.
In other news, Director Gp Ltd Bcp sold 34,688,311 shares of GrafTech International stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $19.75, for a total value of $685,094,142.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in shares of GrafTech International during the 3rd quarter worth approximately $118,000. Trustcore Financial Services LLC lifted its stake in shares of GrafTech International by 620.0% during the 3rd quarter. Trustcore Financial Services LLC now owns 7,200 shares of the company’s stock worth $140,000 after acquiring an additional 6,200 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of GrafTech International during the 2nd quarter worth approximately $231,000. Public Employees Retirement System of Ohio bought a new stake in shares of GrafTech International during the 2nd quarter worth approximately $245,000. Finally, Barings LLC bought a new stake in shares of GrafTech International during the 3rd quarter worth approximately $310,000. 15.58% of the stock is owned by hedge funds and other institutional investors.
About GrafTech International
GrafTech International Ltd. researches, develops, manufactures, and sells synthetic and natural graphite and carbon based products worldwide. It offers graphite electrodes, which are components of the conductive power systems used to produce steel and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.
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