GrafTech International (NYSE:EAF) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of GrafTech International (NYSE:EAF) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

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. “

Separately, ValuEngine raised shares of GrafTech International from a strong sell rating to a sell rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $12.00.

Shares of EAF opened at $7.41 on Monday. GrafTech International has a 12-month low of $5.56 and a 12-month high of $14.84. The firm has a fifty day moving average price of $6.69 and a 200-day moving average price of $7.28. The firm has a market capitalization of $1.98 billion, a P/E ratio of 3.67 and a beta of 0.90.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.19. GrafTech International had a net margin of 39.44% and a negative return on equity of 88.65%. The company had revenue of $280.70 million during the quarter, compared to analyst estimates of $240.00 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was down 41.6% compared to the same quarter last year. As a group, equities analysts forecast that GrafTech International will post 1.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, August 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.54%. GrafTech International’s dividend payout ratio (DPR) is currently 1.55%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC acquired a new position in shares of GrafTech International in the 1st quarter worth $86,000. Invesco Ltd. boosted its holdings in GrafTech International by 74.4% during the first quarter. Invesco Ltd. now owns 478,365 shares of the company’s stock worth $3,884,000 after purchasing an additional 204,053 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in GrafTech International by 456.9% during the second quarter. NN Investment Partners Holdings N.V. now owns 577,012 shares of the company’s stock worth $4,605,000 after purchasing an additional 473,401 shares during the last quarter. Schroder Investment Management Group boosted its holdings in GrafTech International by 13.9% during the first quarter. Schroder Investment Management Group now owns 1,600,518 shares of the company’s stock worth $12,340,000 after purchasing an additional 195,437 shares during the last quarter. Finally, Comerica Bank purchased a new position in GrafTech International during the first quarter worth about $94,000. Hedge funds and other institutional investors own 99.49% of the company’s stock.

GrafTech International Company Profile

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, 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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