Yacktman Asset Management LP Sells 1,968,005 Shares of GrafTech International Ltd. (NYSE:EAF)

Yacktman Asset Management LP lessened its holdings in shares of GrafTech International Ltd. (NYSE:EAF) by 14.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,791,544 shares of the company’s stock after selling 1,968,005 shares during the period. Yacktman Asset Management LP owned 4.59% of GrafTech International worth $15,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in GrafTech International by 287.8% during the 2nd quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock worth $4,914,000 after acquiring an additional 3,759,449 shares during the last quarter. Invenomic Capital Management LP increased its stake in shares of GrafTech International by 89.4% in the 1st quarter. Invenomic Capital Management LP now owns 1,456,417 shares of the company’s stock valued at $2,010,000 after buying an additional 687,595 shares during the period. Clear Harbor Asset Management LLC increased its position in GrafTech International by 60.8% in the second quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company’s stock worth $843,000 after purchasing an additional 328,565 shares during the period. Choreo LLC acquired a new position in GrafTech International during the 2nd quarter valued at about $155,000. Finally, O Keefe Stevens Advisory Inc. lifted its position in GrafTech International by 9.6% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 1,808,368 shares of the company’s stock valued at $1,754,000 after purchasing an additional 157,776 shares during the period. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EAF shares. JPMorgan Chase & Co. cut shares of GrafTech International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets lowered their target price on shares of GrafTech International from $1.20 to $1.00 and set a “market perform” rating for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1.75.

GrafTech International Stock Performance

GrafTech International stock opened at $1.83 on Tuesday. The company’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $1.24. The company has a debt-to-equity ratio of 57.38, a current ratio of 4.22 and a quick ratio of 2.01. GrafTech International Ltd. has a fifty-two week low of $0.52 and a fifty-two week high of $2.98.

About GrafTech International

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.