Yacktman Asset Management LP Acquires 1,451,754 Shares of GrafTech International Ltd (NYSE:EAF)

Yacktman Asset Management LP boosted its holdings in GrafTech International Ltd (NYSE:EAF) by 1,728.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,535,754 shares of the company’s stock after acquiring an additional 1,451,754 shares during the quarter. Yacktman Asset Management LP’s holdings in GrafTech International were worth $17,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. lifted its position in GrafTech International by 6.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,313,975 shares of the company’s stock valued at $42,386,000 after acquiring an additional 200,475 shares in the last quarter. SCW Capital Management LP purchased a new stake in GrafTech International in the 1st quarter valued at about $9,188,000. JPMorgan Chase & Co. increased its stake in GrafTech International by 18.3% in the 1st quarter. JPMorgan Chase & Co. now owns 704,998 shares of the company’s stock valued at $9,017,000 after buying an additional 109,122 shares during the last quarter. Weber Alan W increased its stake in GrafTech International by 790.0% in the 1st quarter. Weber Alan W now owns 445,000 shares of the company’s stock valued at $5,692,000 after buying an additional 395,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in GrafTech International in the 4th quarter valued at about $4,915,000.

NYSE:EAF traded up $0.53 on Friday, hitting $11.42. The stock had a trading volume of 23,258 shares, compared to its average volume of 1,417,148. The stock has a market cap of $3.22 billion, a P/E ratio of 3.97 and a beta of 1.82. GrafTech International Ltd has a 1 year low of $9.60 and a 1 year high of $20.31. The firm’s fifty day simple moving average is $11.15 and its two-hundred day simple moving average is $12.12.

GrafTech International (NYSE:EAF) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). The firm had revenue of $480.39 million during the quarter, compared to analysts’ expectations of $511.07 million. GrafTech International had a net margin of 42.35% and a negative return on equity of 88.91%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Research analysts expect that GrafTech International Ltd will post 2.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.085 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.34 annualized dividend and a dividend yield of 2.98%. GrafTech International’s payout ratio is currently 11.85%.

Several equities research analysts have commented on EAF shares. Zacks Investment Research lowered shares of GrafTech International from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Citigroup upgraded shares of GrafTech International from a “sell” rating to a “neutral” rating and set a $12.00 price objective for the company in a research note on Thursday, July 25th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.50.

About GrafTech International

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.

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

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