Short Interest in GrafTech International Ltd. (NYSE:EAF) Drops By 10.2%

GrafTech International Ltd. (NYSE:EAFGet Rating) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 5,280,000 shares, a decrease of 10.2% from the July 15th total of 5,880,000 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average daily volume of 2,140,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Trading of GrafTech International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas increased its stake in shares of GrafTech International by 10.5% in the first quarter. Teacher Retirement System of Texas now owns 847,943 shares of the company’s stock valued at $8,157,000 after buying an additional 80,774 shares in the last quarter. Barclays PLC boosted its holdings in GrafTech International by 92.5% in the fourth quarter. Barclays PLC now owns 261,566 shares of the company’s stock valued at $3,094,000 after acquiring an additional 125,656 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in GrafTech International in the first quarter valued at about $874,000. Virginia Retirement Systems ET AL boosted its holdings in GrafTech International by 179.4% in the first quarter. Virginia Retirement Systems ET AL now owns 80,200 shares of the company’s stock valued at $772,000 after acquiring an additional 51,500 shares during the last quarter. Finally, Cambiar Investors LLC boosted its holdings in GrafTech International by 3.0% in the first quarter. Cambiar Investors LLC now owns 1,487,869 shares of the company’s stock valued at $14,313,000 after acquiring an additional 42,690 shares during the last quarter. 93.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on EAF shares. Citigroup dropped their price objective on GrafTech International from $10.00 to $7.50 in a research note on Tuesday, August 9th. Royal Bank of Canada lowered GrafTech International from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $10.00 to $7.00 in a research note on Wednesday, July 13th. Finally, Credit Suisse Group dropped their price objective on GrafTech International from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th.

GrafTech International Price Performance

GrafTech International stock traded down $0.15 during mid-day trading on Wednesday, hitting $7.01. 72,998 shares of the company were exchanged, compared to its average volume of 2,449,207. The company has a quick ratio of 1.29, a current ratio of 2.73 and a debt-to-equity ratio of 4.77. The business has a fifty day moving average of $7.34 and a 200 day moving average of $8.75. GrafTech International has a 1-year low of $6.06 and a 1-year high of $13.38. The company has a market capitalization of $1.82 billion, a PE ratio of 3.66 and a beta of 1.05.

GrafTech International (NYSE:EAFGet Rating) last announced its earnings results on Friday, August 5th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. GrafTech International had a return on equity of 807.51% and a net margin of 34.75%. The company had revenue of $363.60 million during the quarter, compared to analyst estimates of $370.67 million. During the same period last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts expect that GrafTech International will post 1.68 earnings per share for the current year.

GrafTech International Company Profile

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GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. It offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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