Treasurer of the State of North Carolina Buys 1,380 Shares of GrafTech International Ltd (NYSE:EAF)

Treasurer of the State of North Carolina grew its stake in GrafTech International Ltd (NYSE:EAF) by 4.8% in the 2nd quarter, Holdings Channel reports. The firm owned 30,155 shares of the company’s stock after purchasing an additional 1,380 shares during the period. Treasurer of the State of North Carolina’s holdings in GrafTech International were worth $347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashburton Jersey Ltd bought a new position in GrafTech International in the 2nd quarter worth $31,000. Advisory Services Network LLC bought a new position in GrafTech International in the 1st quarter worth $37,000. Advisor Group Inc. raised its holdings in GrafTech International by 74.8% in the 2nd quarter. Advisor Group Inc. now owns 4,768 shares of the company’s stock worth $55,000 after purchasing an additional 2,041 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in GrafTech International in the 2nd quarter worth $65,000. Finally, BNP Paribas Arbitrage SA raised its holdings in GrafTech International by 133.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,978 shares of the company’s stock worth $69,000 after purchasing an additional 3,417 shares in the last quarter.

Shares of GrafTech International stock opened at $11.36 on Friday. The company has a 50-day moving average of $12.57 and a 200 day moving average of $11.84. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 3.96 and a beta of 1.74. GrafTech International Ltd has a 1 year low of $9.60 and a 1 year high of $19.40.

GrafTech International (NYSE:EAF) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). GrafTech International had a negative return on equity of 88.91% and a net margin of 42.35%. The business had revenue of $480.39 million during the quarter, compared to the consensus estimate of $511.07 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that GrafTech International Ltd will post 2.67 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 30th were given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, August 29th. GrafTech International’s dividend payout ratio (DPR) is 11.85%.

Several research analysts have commented on EAF shares. Zacks Investment Research upgraded shares of GrafTech International from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 1st. ValuEngine upgraded shares of GrafTech International from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup upgraded shares of GrafTech International from a “sell” rating to a “neutral” rating and set a $12.00 price objective for the company in a report on Thursday, July 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.50.

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.

Further Reading: What can cause a stock to outperform?

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

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