State of New Jersey Common Pension Fund D Acquires New Position in GrafTech International Ltd. (NYSE:EAF)

State of New Jersey Common Pension Fund D acquired a new stake in GrafTech International Ltd. (NYSE:EAFGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 279,423 shares of the company’s stock, valued at approximately $1,976,000. State of New Jersey Common Pension Fund D owned 0.11% of GrafTech International at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in GrafTech International in the first quarter worth $29,000. Point72 Hong Kong Ltd bought a new position in GrafTech International in the first quarter valued at $60,000. Xponance Inc. bought a new position in GrafTech International in the second quarter valued at $77,000. PNC Financial Services Group Inc. grew its position in shares of GrafTech International by 855.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,116 shares of the company’s stock valued at $79,000 after acquiring an additional 7,267 shares during the period. Finally, New York State Teachers Retirement System bought a new position in shares of GrafTech International in the 1st quarter valued at about $91,000. 87.04% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Price Performance

EAF stock opened at $4.34 on Thursday. The company has a 50 day simple moving average of $4.90 and a 200 day simple moving average of $6.74. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 2.40 and a beta of 1.25. GrafTech International Ltd. has a 1 year low of $4.07 and a 1 year high of $13.22. The company has a debt-to-equity ratio of 4.77, a current ratio of 2.73 and a quick ratio of 1.29.

GrafTech International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.92%. The ex-dividend date was Tuesday, August 30th. GrafTech International’s dividend payout ratio (DPR) is currently 2.21%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EAF. Citigroup cut their target price on shares of GrafTech International from $10.00 to $7.50 in a research note on Tuesday, August 9th. Royal Bank of Canada cut their price objective on shares of GrafTech International from $7.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday. BMO Capital Markets cut their price objective on shares of GrafTech International from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Monday, September 19th. Finally, Credit Suisse Group cut their price objective on shares of GrafTech International from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, August 9th.

About GrafTech International

(Get Rating)

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

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