GrafTech International (NYSE:EAF) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of GrafTech International (NYSE:EAFGet Rating) in a research note released on Tuesday morning, The Fly reports. The firm issued a neutral rating on the stock.

Separately, Citigroup dropped their target price on GrafTech International from $6.00 to $5.00 in a research note on Sunday, April 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $7.00.

GrafTech International Trading Up 0.9 %

Shares of NYSE:EAF opened at $4.34 on Tuesday. GrafTech International has a 12-month low of $3.75 and a 12-month high of $9.27. The business’s fifty day simple moving average is $4.57 and its 200-day simple moving average is $5.05. The company has a market capitalization of $1.11 billion, a PE ratio of 4.47 and a beta of 1.36. The company has a current ratio of 3.84, a quick ratio of 1.47 and a debt-to-equity ratio of 2.81.

GrafTech International (NYSE:EAFGet Rating) last announced its earnings results on Friday, April 28th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). GrafTech International had a return on equity of 87.51% and a net margin of 23.86%. The business had revenue of $138.80 million for the quarter, compared to analysts’ expectations of $123.00 million. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down 62.1% compared to the same quarter last year.

GrafTech International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.92%. GrafTech International’s dividend payout ratio is currently 4.12%.

Institutional Trading of GrafTech International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in GrafTech International by 7.5% during the 1st quarter. FMR LLC now owns 38,358,593 shares of the company’s stock worth $186,423,000 after acquiring an additional 2,680,064 shares during the period. Vanguard Group Inc. lifted its holdings in shares of GrafTech International by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 23,925,413 shares of the company’s stock valued at $230,163,000 after buying an additional 1,237,154 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of GrafTech International by 22.0% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 18,310,795 shares of the company’s stock valued at $88,990,000 after buying an additional 3,297,984 shares during the period. Yacktman Asset Management LP lifted its holdings in shares of GrafTech International by 5.4% in the 1st quarter. Yacktman Asset Management LP now owns 8,534,101 shares of the company’s stock valued at $41,476,000 after buying an additional 438,296 shares during the period. Finally, Norges Bank acquired a new position in shares of GrafTech International in the 4th quarter valued at about $39,465,000. Institutional investors and hedge funds own 88.74% of the company’s stock.

About GrafTech International

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GrafTech International Ltd. engages in the manufacture of graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The firm also produces a needle coke product which is a raw material in producing graphite electrodes. Its customers include steel producers and other ferrous and non-ferrous metal producers in Europe, the Middle East and Africa, the Americas and Asia-Pacific, which sell its products into the automotive, construction, appliance, machinery, equipment, and transportation industries.

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