Brandywine Global Investment Management LLC cut its stake in GrafTech International Ltd. (NYSE:EAF – Get Rating) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 946,521 shares of the company’s stock after selling 52,449 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.36% of GrafTech International worth $6,692,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in GrafTech International in the 1st quarter valued at $29,000. Point72 Hong Kong Ltd acquired a new position in GrafTech International in the 1st quarter valued at $60,000. Tyler Stone Wealth Management raised its holdings in GrafTech International by 56.4% in the 2nd quarter. Tyler Stone Wealth Management now owns 6,900 shares of the company’s stock valued at $49,000 after acquiring an additional 2,488 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in GrafTech International by 855.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,116 shares of the company’s stock valued at $79,000 after acquiring an additional 7,267 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in GrafTech International in the 1st quarter valued at $98,000. 87.04% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. BMO Capital Markets lifted their price objective on GrafTech International from $5.00 to $6.00 and gave the company a “market perform” rating in a report on Monday. Credit Suisse Group lowered their price target on GrafTech International from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, August 9th. Royal Bank of Canada lowered their price target on GrafTech International from $7.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, November 8th. Finally, Citigroup lowered their price target on GrafTech International from $10.00 to $7.50 in a report on Tuesday, August 9th.
GrafTech International Price Performance
GrafTech International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, November 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.73%. GrafTech International’s dividend payout ratio is currently 2.21%.
GrafTech International Company Profile
GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. It 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.
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