Oppenheimer & Co. Inc. purchased a new position in shares of GrafTech International Ltd. (NYSE:EAF – Get Rating) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 11,400 shares of the company’s stock, valued at approximately $81,000.
A number of other institutional investors have also added to or reduced their stakes in EAF. Vanguard Group Inc. raised its stake in GrafTech International by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 23,925,413 shares of the company’s stock worth $230,163,000 after buying an additional 1,237,154 shares during the period. Mackenzie Financial Corp raised its stake in shares of GrafTech International by 30.1% in the first quarter. Mackenzie Financial Corp now owns 2,993,271 shares of the company’s stock worth $28,795,000 after purchasing an additional 692,996 shares during the last quarter. American Century Companies Inc. raised its stake in shares of GrafTech International by 1,263.8% in the first quarter. American Century Companies Inc. now owns 613,013 shares of the company’s stock worth $5,897,000 after purchasing an additional 568,064 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of GrafTech International by 190.1% in the first quarter. Renaissance Technologies LLC now owns 800,381 shares of the company’s stock worth $7,700,000 after purchasing an additional 524,481 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of GrafTech International in the first quarter worth approximately $4,939,000. 87.04% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. Credit Suisse Group lowered their price objective on GrafTech International from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th. BMO Capital Markets lowered their price objective on GrafTech International from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Monday, September 19th. Citigroup reduced their target price on GrafTech International from $10.00 to $7.50 in a report on Tuesday, August 9th. Finally, Royal Bank of Canada reduced their target price on GrafTech International from $7.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, November 8th.
GrafTech International Stock Performance
GrafTech International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 29th. GrafTech International’s dividend payout ratio (DPR) is 2.21%.
GrafTech International Profile
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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