GrafTech International Ltd. $EAF Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. lessened its stake in GrafTech International Ltd. (NYSE:EAF) by 90.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,300 shares of the company’s stock after selling 119,700 shares during the quarter. Cibc World Market Inc.’s holdings in GrafTech International were worth $171,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Yacktman Asset Management LP raised its holdings in GrafTech International by 1.2% in the second quarter. Yacktman Asset Management LP now owns 10,826,186 shares of the company’s stock valued at $10,530,000 after acquiring an additional 127,490 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of GrafTech International by 57.2% in the 2nd quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company’s stock valued at $6,936,000 after purchasing an additional 2,594,562 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of GrafTech International by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company’s stock worth $5,518,000 after purchasing an additional 546,177 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its stake in shares of GrafTech International by 92.3% during the second quarter. Prescott Group Capital Management L.L.C. now owns 3,151,686 shares of the company’s stock worth $3,065,000 after purchasing an additional 1,512,436 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of GrafTech International by 132.8% during the second quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after purchasing an additional 1,587,052 shares in the last quarter. 92.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

GrafTech International Stock Down 3.9%

NYSE:EAF opened at $6.18 on Friday. The stock’s 50 day moving average price is $14.42 and its 200 day moving average price is $13.75. The company has a market capitalization of $159.54 million, a PE ratio of -0.73 and a beta of 1.63. GrafTech International Ltd. has a 52-week low of $5.50 and a 52-week high of $20.32.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($1.18). The business had revenue of $116.46 million during the quarter, compared to the consensus estimate of $140.00 million. As a group, sell-side analysts anticipate that GrafTech International Ltd. will post -0.57 EPS for the current fiscal year.

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.