Woodbridge Co Ltd Cuts Position in GrafTech International Ltd. $EAF

Woodbridge Co Ltd decreased its stake in GrafTech International Ltd. (NYSE:EAF) by 90.0% in the 3rd quarter, Holdings Channel reports. The firm owned 115,324 shares of the company’s stock after selling 1,037,920 shares during the quarter. Woodbridge Co Ltd’s holdings in GrafTech International were worth $1,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EAF. Allianz Asset Management GmbH purchased a new position in GrafTech International in the third quarter valued at about $508,000. Olympiad Research LP purchased a new stake in shares of GrafTech International during the 3rd quarter worth approximately $192,000. Hudson Bay Capital Management LP acquired a new stake in shares of GrafTech International in the 2nd quarter worth approximately $197,000. Tower Research Capital LLC TRC grew its holdings in shares of GrafTech International by 1,128.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 167,106 shares of the company’s stock worth $163,000 after acquiring an additional 153,500 shares during the period. Finally, Sender Co & Partners Inc. increased its stake in GrafTech International by 169.2% in the 2nd quarter. Sender Co & Partners Inc. now owns 1,286,455 shares of the company’s stock valued at $1,251,000 after purchasing an additional 808,615 shares in the last quarter. 92.83% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Price Performance

NYSE EAF opened at $5.84 on Friday. GrafTech International Ltd. has a 12 month low of $5.50 and a 12 month high of $20.32. The firm has a market capitalization of $150.79 million, a PE ratio of -0.69 and a beta of 1.69. The company’s 50 day simple moving average is $12.61 and its 200 day simple moving average is $13.35.

GrafTech International (NYSE:EAF) last issued its quarterly earnings results on Friday, February 6th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($1.18). The business had revenue of $116.46 million during the quarter, compared to analysts’ expectations of $140.00 million. Sell-side analysts anticipate that GrafTech International Ltd. will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EAF. Wall Street Zen downgraded GrafTech International from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Royal Bank Of Canada lowered their price objective on shares of GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 10th. Citigroup lifted their price target on shares of GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $11.75.

About GrafTech International

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.