Grantham Mayo Van Otterloo & Co. LLC Lowers Stock Position in GrafTech International Ltd. $EAF

Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of GrafTech International Ltd. (NYSE:EAF) by 96.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,518 shares of the company’s stock after selling 5,838,294 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.73% of GrafTech International worth $2,430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EAF. AQR Capital Management LLC boosted its position in GrafTech International by 5,083.2% during the first quarter. AQR Capital Management LLC now owns 635,663 shares of the company’s stock worth $556,000 after purchasing an additional 623,399 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of GrafTech International during the 2nd quarter worth approximately $117,000. Franklin Resources Inc. lifted its position in shares of GrafTech International by 57.2% during the 2nd quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company’s stock valued at $6,936,000 after buying an additional 2,594,562 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in GrafTech International in the 2nd quarter valued at $182,000. Finally, Marshall Wace LLP increased its holdings in GrafTech International by 132.8% in the 2nd quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after acquiring an additional 1,587,052 shares in the last quarter. Hedge funds and other institutional investors own 92.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Royal Bank Of Canada decreased their price target on shares of 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of GrafTech International in a report on Thursday, January 22nd. Finally, Citigroup boosted their price objective on GrafTech International from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, GrafTech International currently has an average rating of “Reduce” and a consensus target price of $11.75.

GrafTech International Stock Up 2.3%

GrafTech International stock opened at $5.64 on Wednesday. The company has a fifty day simple moving average of $12.20 and a 200-day simple moving average of $13.33. The firm has a market capitalization of $145.50 million, a price-to-earnings ratio of -0.66 and a beta of 1.69. GrafTech International Ltd. has a 52-week low of $4.92 and a 52-week high of $20.32.

GrafTech International (NYSE:EAF) last posted its quarterly earnings results on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The firm had revenue of $116.46 million for the quarter, compared to analysts’ expectations of $140.00 million. On average, research analysts anticipate that GrafTech International Ltd. will post -0.57 EPS for the current fiscal year.

About GrafTech International

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.