Franklin Resources Inc. Purchases 2,029,350 Shares of GrafTech International Ltd. (NYSE:EAF)

Franklin Resources Inc. boosted its position in GrafTech International Ltd. (NYSE:EAF) by 81.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,536,232 shares of the company’s stock after acquiring an additional 2,029,350 shares during the period. Franklin Resources Inc.’s holdings in GrafTech International were worth $6,623,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of GrafTech International by 287.8% during the second quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock worth $4,914,000 after purchasing an additional 3,759,449 shares during the period. Virtu Financial LLC raised its position in GrafTech International by 385.5% during the 3rd quarter. Virtu Financial LLC now owns 175,702 shares of the company’s stock valued at $232,000 after purchasing an additional 139,513 shares during the last quarter. SG Americas Securities LLC purchased a new stake in GrafTech International in the 3rd quarter worth approximately $156,000. Choreo LLC bought a new stake in shares of GrafTech International in the 2nd quarter worth approximately $155,000. Finally, Intech Investment Management LLC purchased a new position in shares of GrafTech International during the third quarter valued at approximately $81,000. Institutional investors own 92.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of 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 company a “neutral” rating in a research report on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, GrafTech International has an average rating of “Hold” and a consensus target price of $1.80.

GrafTech International Price Performance

EAF opened at $1.58 on Monday. The company has a current ratio of 3.79, a quick ratio of 1.98 and a debt-to-equity ratio of 57.38. The company has a market cap of $406.32 million, a price-to-earnings ratio of -1.35 and a beta of 0.95. The stock has a fifty day simple moving average of $1.94 and a two-hundred day simple moving average of $1.31. GrafTech International Ltd. has a 12-month low of $0.52 and a 12-month high of $2.53.

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

GrafTech International 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.