GrafTech International Ltd. (NYSE:EAF) Sees Large Drop in Short Interest

GrafTech International Ltd. (NYSE:EAF - Get Free Report) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 6,180,000 shares, a decrease of 7.3% from the July 15th total of 6,670,000 shares. Based on an average daily trading volume, of 1,450,000 shares, the days-to-cover ratio is presently 4.3 days. Currently, 3.2% of the company's shares are short sold.

Several hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC lifted its stake in GrafTech International by 15.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 42,094 shares of the company's stock valued at $205,000 after acquiring an additional 5,708 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of GrafTech International by 14.9% during the 1st quarter. GW&K Investment Management LLC now owns 787,491 shares of the company's stock worth $3,827,000 after purchasing an additional 101,923 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of GrafTech International by 21.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,984 shares of the company's stock worth $57,000 after purchasing an additional 2,148 shares during the period. Yacktman Asset Management LP raised its stake in shares of GrafTech International by 5.4% during the 1st quarter. Yacktman Asset Management LP now owns 8,534,101 shares of the company's stock worth $41,476,000 after purchasing an additional 438,296 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of GrafTech International by 16.7% during the 4th quarter. ProShare Advisors LLC now owns 24,939 shares of the company's stock worth $119,000 after purchasing an additional 3,572 shares during the period. Institutional investors and hedge funds own 91.62% of the company's stock.

Several brokerages recently commented on EAF. JPMorgan Chase & Co. began coverage on GrafTech International in a report on Tuesday, May 23rd. They issued a "neutral" rating on the stock. Citigroup reduced their target price on GrafTech International from $6.00 to $5.00 in a report on Sunday, April 30th. Finally, BMO Capital Markets reduced their target price on GrafTech International from $5.00 to $4.50 and set a "market perform" rating on the stock in a report on Monday, August 7th.

Check Out Our Latest Report on EAF

GrafTech International stock opened at $3.97 on Thursday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 7.94 and a beta of 1.36. GrafTech International has a 52-week low of $3.75 and a 52-week high of $7.27. The stock's 50 day moving average price is $4.80 and its two-hundred day moving average price is $4.89. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.70 and a current ratio of 4.10.

GrafTech International (NYSE:EAF - Get Free Report) last posted its quarterly earnings results on Friday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). GrafTech International had a net margin of 14.68% and a return on equity of 40.42%. The business had revenue of $185.60 million during the quarter, compared to analyst estimates of $177.18 million. During the same period in the previous year, the business posted $0.44 EPS. The business's revenue for the quarter was down 49.0% compared to the same quarter last year. On average, equities analysts predict that GrafTech International will post -0.13 earnings per share for the current year.

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.

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