Invenomic Capital Management LP Decreases Stock Holdings in GrafTech International Ltd. $EAF

Invenomic Capital Management LP lowered its holdings in shares of GrafTech International Ltd. (NYSE:EAF) by 90.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,035 shares of the company’s stock after selling 1,003,281 shares during the quarter. Invenomic Capital Management LP owned 0.41% of GrafTech International worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Jump Financial LLC purchased a new stake in shares of GrafTech International during the 2nd quarter valued at about $42,000. Catalyst Funds Management Pty Ltd bought a new stake in GrafTech International during the second quarter worth approximately $117,000. Tower Research Capital LLC TRC increased its stake in GrafTech International by 1,128.2% during the second quarter. Tower Research Capital LLC TRC now owns 167,106 shares of the company’s stock worth $163,000 after acquiring an additional 153,500 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in GrafTech International during the second quarter valued at approximately $182,000. Finally, Olympiad Research LP purchased a new stake in GrafTech International during the third quarter valued at approximately $192,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Price Performance

Shares of NYSE:EAF opened at $5.75 on Tuesday. GrafTech International Ltd. has a 1 year low of $4.92 and a 1 year high of $20.32. The business has a 50 day simple moving average of $11.36 and a two-hundred day simple moving average of $13.21. The firm has a market capitalization of $148.47 million, a PE ratio of -0.68 and a beta of 1.69.

GrafTech International (NYSE:EAF) last issued its quarterly earnings results on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The firm had revenue of $116.46 million during the quarter, compared to analysts’ expectations of $140.00 million. Equities research analysts expect that GrafTech International Ltd. will post -0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EAF shares. Royal Bank Of Canada dropped their target price on GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, February 10th. Citigroup increased their price target on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Wall Street Zen downgraded GrafTech International from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $11.75.

GrafTech International 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.