JPMorgan Chase & Co. Raises Stake in GrafTech International Ltd. (NYSE:EAF)

JPMorgan Chase & Co. boosted its holdings in GrafTech International Ltd. (NYSE:EAF) by 475.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,458,829 shares of the company’s stock after buying an additional 2,031,652 shares during the quarter. JPMorgan Chase & Co.’s holdings in GrafTech International were worth $3,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of GrafTech International by 287.8% in the 2nd quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock valued at $4,914,000 after purchasing an additional 3,759,449 shares in the last quarter. Geode Capital Management LLC raised its stake in GrafTech International by 1.2% during the third quarter. Geode Capital Management LLC now owns 5,053,060 shares of the company’s stock valued at $6,671,000 after buying an additional 59,424 shares in the last quarter. Franklin Resources Inc. lifted its holdings in GrafTech International by 81.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,536,232 shares of the company’s stock worth $6,623,000 after buying an additional 2,029,350 shares during the last quarter. Foundation Resource Management Inc. grew its position in shares of GrafTech International by 1.3% in the 3rd quarter. Foundation Resource Management Inc. now owns 1,873,481 shares of the company’s stock worth $2,473,000 after acquiring an additional 24,138 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of GrafTech International by 13.6% in the 3rd quarter. Jane Street Group LLC now owns 885,147 shares of the company’s stock worth $1,168,000 after acquiring an additional 106,091 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. raised GrafTech International from an “underweight” rating to a “neutral” rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of GrafTech International from $1.00 to $2.20 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd.

GrafTech International Price Performance

NYSE EAF opened at $1.83 on Monday. GrafTech International Ltd. has a 1 year low of $0.52 and a 1 year high of $2.53. The stock’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $1.39. The company has a market cap of $471.39 million, a PE ratio of -1.57 and a beta of 0.99. The company has a current ratio of 3.79, a quick ratio of 1.98 and a debt-to-equity ratio of 57.38.

GrafTech International (NYSE:EAF) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $130.65 million during the quarter, compared to analyst estimates of $128.14 million. GrafTech International had a negative net margin of 55.21% and a negative return on equity of 459.99%. During the same quarter last year, the business posted ($0.08) EPS. On average, analysts predict that GrafTech International Ltd. will post -0.43 EPS for the current year.

GrafTech International Company Profile

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company 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 and synthetic graphite.