Comerica Bank Sells 57,018 Shares of GrafTech International Ltd. (NYSE:EAF)

Comerica Bank cut its position in GrafTech International Ltd. (NYSE:EAF – Get Rating) by 36.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,404 shares of the company’s stock after selling 57,018 shares during the quarter. Comerica Bank’s holdings in GrafTech International were worth $1,015,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in GrafTech International in the fourth quarter valued at about $80,000. New York State Teachers Retirement System acquired a new stake in shares of GrafTech International in the first quarter valued at about $91,000. Ensign Peak Advisors Inc acquired a new stake in shares of GrafTech International in the fourth quarter valued at about $103,000. CIBC Asset Management Inc increased its stake in shares of GrafTech International by 11.0% in the fourth quarter. CIBC Asset Management Inc now owns 12,425 shares of the company’s stock valued at $147,000 after buying an additional 1,236 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in shares of GrafTech International in the fourth quarter valued at about $156,000. 93.65% of the stock is currently owned by institutional investors.

GrafTech International Trading Up 0.7 %

NYSE EAF opened at $7.66 on Friday. The business has a 50 day simple moving average of $7.74 and a 200 day simple moving average of $9.11. GrafTech International Ltd. has a one year low of $6.06 and a one year high of $13.38. The stock has a market capitalization of $1.99 billion, a P/E ratio of 4.88 and a beta of 1.04. The company has a debt-to-equity ratio of 7.18, a current ratio of 2.63 and a quick ratio of 1.44.

GrafTech International (NYSE:EAF – Get Rating) last released its earnings results on Friday, May 6th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. GrafTech International had a negative return on equity of 557.82% and a net margin of 29.39%. The business had revenue of $366.30 million during the quarter, compared to analysts’ expectations of $378.00 million. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s revenue was up 20.3% on a year-over-year basis. Research analysts expect that GrafTech International Ltd. will post 1.66 earnings per share for the current year.

GrafTech International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.52%. GrafTech International’s dividend payout ratio (DPR) is presently 2.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EAF shares. Citigroup cut GrafTech International from a “buy” rating to a “neutral” rating and decreased their price target for the company from $13.00 to $10.00 in a research note on Tuesday, June 7th. Royal Bank of Canada cut GrafTech International from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $10.00 to $7.00 in a research note on Wednesday, July 13th.

GrafTech International 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.