GrafTech International (NYSE:EAF) Shares Down 3.1% – What’s Next?

GrafTech International Ltd. (NYSE:EAF)’s share price dropped 3.1% during trading on Monday . The stock traded as low as $8.19 and last traded at $8.2850. Approximately 225,364 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 235,685 shares. The stock had previously closed at $8.55.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings raised GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of GrafTech International in a research report on Tuesday, April 14th. Wall Street Zen raised GrafTech International from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. BMO Capital Markets increased their price target on GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $10.00 price target on shares of GrafTech International in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $10.67.

GrafTech International Stock Down 3.1%

The stock has a 50-day simple moving average of $8.73 and a 200-day simple moving average of $10.90. The firm has a market capitalization of $215.82 million, a PE ratio of -0.96 and a beta of 1.77.

GrafTech International (NYSE:EAF) last released its earnings results on Friday, May 1st. The company reported ($2.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.80). The business had revenue of $125.10 million during the quarter, compared to analyst estimates of $120.60 million. Equities analysts forecast that GrafTech International Ltd. will post -6.18 earnings per share for the current fiscal year.

Institutional Trading of GrafTech International

A number of large investors have recently bought and sold shares of EAF. AQR Capital Management LLC increased its position in GrafTech International by 5,083.2% in the first quarter. AQR Capital Management LLC now owns 635,663 shares of the company’s stock worth $556,000 after buying an additional 623,399 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in GrafTech International in the second quarter worth $182,000. Marshall Wace LLP increased its position in GrafTech International by 132.8% in the second quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after buying an additional 1,587,052 shares during the last quarter. Jump Financial LLC purchased a new stake in GrafTech International in the second quarter worth $42,000. Finally, Jane Street Group LLC increased its position in GrafTech International by 357.6% in the second quarter. Jane Street Group LLC now owns 1,678,655 shares of the company’s stock worth $1,633,000 after buying an additional 1,311,797 shares during the last quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Company Profile

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.