Raymond James & Associates Boosts Stake in GrafTech International Ltd (NYSE:EAF)

Raymond James & Associates lifted its stake in GrafTech International Ltd (NYSE:EAF) by 27.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,106 shares of the company’s stock after acquiring an additional 32,976 shares during the quarter. Raymond James & Associates owned approximately 0.05% of GrafTech International worth $1,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of EAF. Norges Bank bought a new stake in GrafTech International in the fourth quarter worth $56,907,000. BlackRock Inc. boosted its holdings in GrafTech International by 0.3% in the fourth quarter. BlackRock Inc. now owns 2,417,789 shares of the company’s stock worth $27,660,000 after purchasing an additional 7,445 shares in the last quarter. Jennison Associates LLC boosted its holdings in GrafTech International by 16.8% in the fourth quarter. Jennison Associates LLC now owns 1,899,470 shares of the company’s stock worth $21,730,000 after purchasing an additional 272,525 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in GrafTech International by 741.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,283,800 shares of the company’s stock worth $14,686,000 after purchasing an additional 1,131,251 shares in the last quarter. Finally, Lancaster Investment Management LLP bought a new stake in GrafTech International in the fourth quarter worth $13,553,000.

Shares of NYSE:EAF opened at $10.48 on Thursday. GrafTech International Ltd has a 1 year low of $9.60 and a 1 year high of $24.36. The firm has a market capitalization of $3.05 billion, a P/E ratio of 3.65 and a beta of 1.69.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $474.99 million during the quarter, compared to analysts’ expectations of $472.36 million. During the same period in the prior year, the company earned $0.74 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GrafTech International Ltd will post 2.8 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, May 30th. GrafTech International’s dividend payout ratio (DPR) is 11.85%.

EAF has been the subject of a number of recent research reports. Citigroup cut shares of GrafTech International from a “buy” rating to a “sell” rating and set a $13.93 price objective for the company. in a report on Monday, April 22nd. Zacks Investment Research cut shares of GrafTech International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 13th. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $22.59.

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GrafTech International 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.

Read More: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for GrafTech International (NYSE:EAF)

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