GrafTech International Ltd. $EAF Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its position in GrafTech International Ltd. (NYSE:EAF) by 90.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,300 shares of the company’s stock after selling 119,700 shares during the quarter. Cibc World Market Inc. owned about 0.05% of GrafTech International worth $171,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of GrafTech International by 5,083.2% during the 1st quarter. AQR Capital Management LLC now owns 635,663 shares of the company’s stock valued at $556,000 after buying an additional 623,399 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in GrafTech International by 42.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,531 shares of the company’s stock worth $27,000 after acquiring an additional 8,188 shares during the last quarter. CWM LLC raised its position in GrafTech International by 63.7% in the second quarter. CWM LLC now owns 66,335 shares of the company’s stock valued at $65,000 after purchasing an additional 25,818 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of GrafTech International in the 2nd quarter valued at $366,000. Finally, Yacktman Asset Management LP grew its holdings in shares of GrafTech International by 1.2% during the 2nd quarter. Yacktman Asset Management LP now owns 10,826,186 shares of the company’s stock worth $10,530,000 after purchasing an additional 127,490 shares during the period. Hedge funds and other institutional investors own 92.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on EAF. Wall Street Zen lowered shares of GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Royal Bank Of Canada dropped their price target on shares of GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 10th. Citigroup upped their price objective on shares of GrafTech International from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GrafTech International in a report on Thursday, January 22nd. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $11.75.

GrafTech International Stock Performance

Shares of EAF opened at $6.18 on Friday. The company’s 50-day simple moving average is $14.42 and its 200-day simple moving average is $13.75. GrafTech International Ltd. has a 1 year low of $5.50 and a 1 year high of $20.32. The stock has a market capitalization of $159.54 million, a PE ratio of -0.73 and a beta of 1.63.

GrafTech International (NYSE:EAF) last announced its earnings results on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The company had revenue of $116.46 million for the quarter, compared to analysts’ expectations of $140.00 million. On average, sell-side analysts predict that GrafTech International Ltd. will post -0.57 earnings per share for the current year.

GrafTech International Profile

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.