Bank of New York Mellon Corp purchased a new stake in GrafTech International Ltd (NYSE:EAF) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 94,996 shares of the company’s stock, valued at approximately $1,709,000.

Other hedge funds have also modified their holdings of the company. First Mercantile Trust Co. purchased a new position in GrafTech International in the 2nd quarter valued at approximately $231,000. Bank of Montreal Can purchased a new position in GrafTech International in the 2nd quarter valued at approximately $2,513,000. Mackay Shields LLC purchased a new position in GrafTech International in the 2nd quarter valued at approximately $1,342,000. Rhumbline Advisers purchased a new position in GrafTech International in the 2nd quarter valued at approximately $687,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in GrafTech International in the 2nd quarter valued at approximately $22,316,000. 15.06% of the stock is owned by institutional investors.

In other news, Director Gp Ltd Bcp sold 34,688,311 shares of GrafTech International stock in a transaction on Monday, August 13th. The shares were sold at an average price of $19.75, for a total transaction of $685,094,142.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

EAF has been the subject of several recent research reports. Vertical Group initiated coverage on shares of GrafTech International in a research report on Wednesday, August 1st. They issued a “buy” rating for the company. Vertical Research initiated coverage on shares of GrafTech International in a research report on Wednesday, August 1st. They set a “buy” rating and a $29.00 price objective for the company. Zacks Investment Research cut shares of GrafTech International from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Finally, BMO Capital Markets lifted their price objective on shares of GrafTech International from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, August 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. GrafTech International has an average rating of “Buy” and an average target price of $26.60.

GrafTech International stock opened at $17.44 on Friday. GrafTech International Ltd has a 12-month low of $14.00 and a 12-month high of $24.36. The company has a current ratio of 2.56, a quick ratio of 1.63 and a debt-to-equity ratio of -2.19.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, August 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.07. The business had revenue of $456.30 million during the quarter, compared to analysts’ expectations of $417.00 million. GrafTech International had a net margin of 38.52% and a negative return on equity of 1,837.51%. GrafTech International’s revenue for the quarter was up 292.3% on a year-over-year basis. As a group, analysts forecast that GrafTech International Ltd will post 2.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, August 31st were given a dividend of $0.085 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.34 annualized dividend and a dividend yield of 1.95%.

GrafTech International Company Profile

GrafTech International Ltd. researches, develops, manufactures, and sells synthetic and natural graphite and carbon based products worldwide. It offers graphite electrodes, which are components of the conductive power systems used to produce steel and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

Recommended Story: What is a Call Option?

Want to see what other hedge funds are holding EAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GrafTech International Ltd (NYSE:EAF).

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

Receive News & Ratings for GrafTech International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GrafTech International and related companies with MarketBeat.com's FREE daily email newsletter.