Foundation Resource Management Inc. raised its position in GrafTech International Ltd. (NYSE:EAF – Get Rating) by 1.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,437,406 shares of the company’s stock after acquiring an additional 14,466 shares during the quarter. GrafTech International makes up 1.8% of Foundation Resource Management Inc.’s portfolio, making the stock its 24th biggest holding. Foundation Resource Management Inc.’s holdings in GrafTech International were worth $10,162,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in GrafTech International by 17.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 56,707 shares of the company’s stock worth $671,000 after buying an additional 8,338 shares in the last quarter. JPMorgan Chase & Co. increased its position in GrafTech International by 155.8% in the fourth quarter. JPMorgan Chase & Co. now owns 566,873 shares of the company’s stock worth $6,706,000 after buying an additional 345,304 shares in the last quarter. Rhumbline Advisers increased its position in GrafTech International by 1.2% in the fourth quarter. Rhumbline Advisers now owns 203,560 shares of the company’s stock worth $2,408,000 after buying an additional 2,460 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in GrafTech International in the fourth quarter worth about $103,000. Finally, Charles Schwab Investment Management Inc. increased its position in GrafTech International by 7.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,834,131 shares of the company’s stock worth $21,698,000 after buying an additional 121,827 shares in the last quarter. Institutional investors own 87.04% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. BMO Capital Markets reduced their price target on GrafTech International from $9.00 to $7.00 and set a “market perform” rating for the company in a research report on Monday. Credit Suisse Group cut their target price on GrafTech International from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, August 9th. Royal Bank of Canada cut GrafTech International from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $10.00 to $7.00 in a research report on Wednesday, July 13th. Finally, Citigroup cut their target price on GrafTech International from $10.00 to $7.50 in a research report on Tuesday, August 9th.
GrafTech International Price Performance
GrafTech International (NYSE:EAF – Get Rating) last released its quarterly earnings results on Friday, August 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $363.60 million during the quarter, compared to analysts’ expectations of $370.67 million. GrafTech International had a return on equity of 807.51% and a net margin of 34.75%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. As a group, analysts predict that GrafTech International Ltd. will post 1.68 EPS for the current year.
GrafTech International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, August 30th. GrafTech International’s dividend payout ratio is presently 2.11%.
About GrafTech International
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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