GrafTech International Ltd (EAF) Position Trimmed by D. E. Shaw & Co. Inc.

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D. E. Shaw & Co. Inc. trimmed its holdings in shares of GrafTech International Ltd (NYSE:EAF) by 97.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,956 shares of the company’s stock after selling 767,812 shares during the period. D. E. Shaw & Co. Inc.’s holdings in GrafTech International were worth $217,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in GrafTech International by 61.0% in the 3rd quarter. Macquarie Group Ltd. now owns 258,856 shares of the company’s stock valued at $5,050,000 after buying an additional 98,088 shares during the last quarter. Reinhart Partners Inc. boosted its position in GrafTech International by 37.3% in the 4th quarter. Reinhart Partners Inc. now owns 217,640 shares of the company’s stock valued at $2,490,000 after buying an additional 59,150 shares during the last quarter. Jane Street Group LLC bought a new position in GrafTech International in the 3rd quarter valued at $277,000. First Manhattan Co. boosted its position in GrafTech International by 71.2% in the 4th quarter. First Manhattan Co. now owns 652,300 shares of the company’s stock valued at $7,462,000 after buying an additional 271,350 shares during the last quarter. Finally, Amalgamated Bank bought a new position in GrafTech International in the 3rd quarter valued at $205,000.

Shares of EAF opened at $14.04 on Wednesday. GrafTech International Ltd has a 52 week low of $10.27 and a 52 week high of $24.36. The firm has a market capitalization of $4.06 billion and a price-to-earnings ratio of 4.87.

GrafTech International (NYSE:EAF) last posted its quarterly earnings results on Friday, February 8th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.08. GrafTech International had a negative return on equity of 100.98% and a net margin of 45.06%. The business had revenue of $532.80 million for the quarter, compared to analyst estimates of $487.67 million. GrafTech International’s quarterly revenue was up 176.8% compared to the same quarter last year. On average, equities research analysts predict that GrafTech International Ltd will post 2.87 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th were given a $0.085 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.34 annualized dividend and a dividend yield of 2.42%. GrafTech International’s dividend payout ratio is currently 11.85%.

A number of research analysts have commented on the company. Citigroup decreased their price objective on GrafTech International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Zacks Investment Research upgraded GrafTech International from a “strong sell” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. GrafTech International has an average rating of “Buy” and a consensus price target of $24.14.

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GrafTech International Company Profile

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, ferrous, and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

Further Reading: Convertible Shares

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

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