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

Yacktman Asset Management LP reduced its stake in GrafTech International Ltd. (NYSE:EAF) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 998,475 shares of the company’s stock after selling 70,463 shares during the quarter. Yacktman Asset Management LP owned approximately 3.87% of GrafTech International worth $15,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Olympiad Research LP acquired a new stake in shares of GrafTech International in the 3rd quarter worth $192,000. Prelude Capital Management LLC acquired a new stake in shares of GrafTech International in the 3rd quarter worth $192,000. Caption Management LLC acquired a new stake in shares of GrafTech International in the 3rd quarter worth $192,000. Bridgeway Capital Management LLC acquired a new stake in shares of GrafTech International in the 3rd quarter worth $377,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of GrafTech International in the 3rd quarter worth $508,000. 92.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on EAF shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of GrafTech International in a research note on Tuesday, April 14th. Weiss Ratings downgraded GrafTech International from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen raised GrafTech International from a “strong sell” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $10.00 target price on shares of GrafTech International in a research note on Tuesday. Finally, BMO Capital Markets raised their target price on GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $10.00.

GrafTech International Trading Up 3.7%

NYSE EAF opened at $9.29 on Friday. The stock has a market cap of $241.87 million, a PE ratio of -1.07 and a beta of 1.73. GrafTech International Ltd. has a twelve month low of $4.92 and a twelve month high of $20.32. The stock has a fifty day simple moving average of $7.17 and a 200-day simple moving average of $11.79.

GrafTech International (NYSE:EAF) last announced its earnings results on Friday, May 1st. The company reported ($2.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.80). The company had revenue of $125.10 million during the quarter, compared to the consensus estimate of $120.60 million. Research analysts predict that GrafTech International Ltd. will post -6.18 EPS for the current year.

GrafTech International Company 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.