GrafTech International (EAF) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of GrafTech International (NYSE:EAF) from a hold rating to a sell rating in a research note issued to investors on Wednesday, 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, Citigroup dropped their target price on shares of GrafTech International from $21.00 to $17.00 and set a buy rating for the company in a research report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $22.59.

GrafTech International stock traded up $0.30 during mid-day trading on Wednesday, hitting $11.55. 7,890 shares of the company traded hands, compared to its average volume of 1,264,087. GrafTech International has a one year low of $10.27 and a one year high of $24.36. The firm has a market cap of $3.30 billion and a PE ratio of 4.01.

GrafTech International (NYSE:EAF) last announced its earnings results on Wednesday, May 1st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. GrafTech International had a net margin of 43.15% and a negative return on equity of 83.18%. The business had revenue of $474.99 million during the quarter, compared to analyst estimates of $472.36 million. During the same period in the previous year, the business posted $0.74 earnings per share. GrafTech International’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts anticipate that GrafTech International will post 2.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Thursday, May 30th. GrafTech International’s dividend payout ratio (DPR) is presently 11.85%.

Several hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its stake in shares of GrafTech International by 7.0% during the fourth quarter. Amalgamated Bank now owns 11,268 shares of the company’s stock worth $129,000 after acquiring an additional 738 shares in the last quarter. Barings LLC boosted its holdings in shares of GrafTech International by 5.7% during the 4th quarter. Barings LLC now owns 16,800 shares of the company’s stock valued at $192,000 after buying an additional 900 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of GrafTech International by 114.9% during the 1st quarter. Advisor Group Inc. now owns 2,727 shares of the company’s stock valued at $34,000 after buying an additional 1,458 shares in the last quarter. Quantamental Technologies LLC boosted its holdings in shares of GrafTech International by 46.9% during the 1st quarter. Quantamental Technologies LLC now owns 6,610 shares of the company’s stock valued at $85,000 after buying an additional 2,110 shares in the last quarter. Finally, Enlightenment Research LLC bought a new stake in shares of GrafTech International during the 4th quarter valued at $26,000.

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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