Yacktman Asset Management LP Lowers Stock Holdings in GrafTech International Ltd. $EAF

Yacktman Asset Management LP trimmed its position in shares of GrafTech International Ltd. (NYSE:EAF) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 998,475 shares of the company’s stock after selling 70,463 shares during the quarter. Yacktman Asset Management LP’s holdings in GrafTech International were worth $15,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Olympiad Research LP purchased a new position in GrafTech International during the 3rd quarter valued at about $192,000. Prelude Capital Management LLC purchased a new position in GrafTech International during the 3rd quarter valued at about $192,000. Caption Management LLC purchased a new position in GrafTech International during the 3rd quarter valued at about $192,000. Bridgeway Capital Management LLC purchased a new position in GrafTech International during the 3rd quarter valued at about $377,000. Finally, Allianz Asset Management GmbH purchased a new position in GrafTech International during the 3rd quarter valued at about $508,000. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EAF shares. Wall Street Zen upgraded GrafTech International from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings lowered GrafTech International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of GrafTech International in a research report on Tuesday, April 14th. 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 issued a $10.00 price target on shares of GrafTech International in a research report on Tuesday. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $10.00.

GrafTech International Stock Performance

Shares of NYSE EAF opened at $9.29 on Friday. GrafTech International Ltd. has a fifty-two week low of $4.92 and a fifty-two week high of $20.32. The firm has a market capitalization of $241.87 million, a PE ratio of -1.07 and a beta of 1.73. The stock’s 50-day simple moving average is $7.17 and its 200-day simple moving average is $11.79.

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

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.