Traders Buy High Volume of GrafTech International Put Options (EAF)

GrafTech International Ltd (NYSE:EAF) was the target of unusually large options trading activity on Thursday. Stock traders purchased 6,568 put options on the company. This is an increase of approximately 2,984% compared to the average daily volume of 213 put options.

Shares of EAF opened at $18.05 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.56 and a debt-to-equity ratio of -2.19. GrafTech International has a 12-month low of $14.00 and a 12-month high of $24.36.

GrafTech International (NYSE:EAF) last announced its quarterly earnings data on Friday, August 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.07. GrafTech International had a net margin of 38.52% and a negative return on equity of 1,837.51%. The firm had revenue of $456.30 million during the quarter, compared to analyst estimates of $417.00 million. The company’s quarterly revenue was up 292.3% compared to the same quarter last year. research analysts anticipate that GrafTech International will post 2.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 31st will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, August 30th.

In other GrafTech International news, Director Anthony R. Taccone bought 2,250 shares of the company’s stock in a transaction dated Monday, June 4th. The stock was acquired at an average price of $18.92 per share, with a total value of $42,570.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gp Ltd Bcp sold 34,688,311 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $19.75, for a total transaction of $685,094,142.25. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently made changes to their positions in EAF. Boston Partners purchased a new stake in shares of GrafTech International in the second quarter valued at about $138,608,000. Federated Investors Inc. PA purchased a new stake in shares of GrafTech International in the second quarter valued at about $68,574,000. Millennium Management LLC purchased a new stake in shares of GrafTech International in the second quarter valued at about $61,229,000. Indus Capital Partners LLC purchased a new position in GrafTech International during the second quarter worth about $40,731,000. Finally, Jennison Associates LLC purchased a new position in GrafTech International during the second quarter worth about $38,806,000. 4.43% of the stock is owned by hedge funds and other institutional investors.

EAF has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of GrafTech International in a report on Monday, May 14th. They issued a “buy” rating for the company. Vertical Group initiated coverage on shares of GrafTech International in a report on Wednesday, August 1st. They issued a “buy” rating for the company. Credit Suisse Group initiated coverage on shares of GrafTech International in a report on Monday, May 14th. They issued an “outperform” rating and a $24.00 price objective for the company. Vertical Research initiated coverage on shares of GrafTech International in a report on Wednesday, August 1st. They issued a “buy” rating and a $29.00 price objective for the company. Finally, BMO Capital Markets initiated coverage on shares of GrafTech International in a report on Tuesday, May 15th. They issued an “outperform” rating and a $25.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, GrafTech International presently has a consensus rating of “Buy” and an average price target of $26.60.

About GrafTech International

GrafTech International Ltd. researches, develops, manufactures, and sells synthetic and natural graphite and carbon based products worldwide. It offers graphite electrodes, which are components of the conductive power systems used to produce steel and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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