GrafTech International (NYSE:EAF) Stock Rating Lowered by JPMorgan Chase & Co.

GrafTech International (NYSE:EAF) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

GrafTech International Trading Down 9.0 %

EAF stock opened at $0.99 on Tuesday. The business has a fifty day moving average price of $1.36 and a 200 day moving average price of $1.50. The company has a debt-to-equity ratio of 24.74, a current ratio of 3.73 and a quick ratio of 1.91. GrafTech International has a fifty-two week low of $0.87 and a fifty-two week high of $5.32. The stock has a market capitalization of $255.09 million, a price-to-earnings ratio of -0.91 and a beta of 0.92.

GrafTech International (NYSE:EAF) last announced its earnings results on Friday, April 26th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. GrafTech International had a negative return on equity of 66.36% and a negative net margin of 45.08%. The company had revenue of $136.80 million during the quarter, compared to analyst estimates of $125.73 million. During the same period last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts expect that GrafTech International will post -0.43 EPS for the current fiscal year.

Insider Transactions at GrafTech International

In related news, major shareholder Colonial House Capital Ltd purchased 179,279 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was acquired at an average price of $1.48 per share, with a total value of $265,332.92. Following the completion of the acquisition, the insider now directly owns 29,714,854 shares in the company, valued at approximately $43,977,983.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 1,322,486 shares of company stock worth $2,278,701. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of GrafTech International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial Inc. bought a new position in shares of GrafTech International in the 4th quarter valued at about $1,843,000. Invenomic Capital Management LP bought a new position in GrafTech International in the fourth quarter valued at approximately $1,684,000. Allianz Asset Management GmbH grew its holdings in GrafTech International by 37.0% during the 4th quarter. Allianz Asset Management GmbH now owns 704,494 shares of the company’s stock worth $1,543,000 after acquiring an additional 190,225 shares during the period. New York State Common Retirement Fund grew its holdings in GrafTech International by 1,425.0% during the 4th quarter. New York State Common Retirement Fund now owns 4,422,999 shares of the company’s stock worth $9,686,000 after acquiring an additional 4,132,961 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of GrafTech International during the 4th quarter valued at $160,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

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.