GrafTech International Ltd’s Lock-Up Period To End on October 16th (NYSE:EAF)

GrafTech International’s (NYSE:EAF) lock-up period is set to expire on Tuesday, October 16th. GrafTech International had issued 35,000,000 shares in its initial public offering on April 19th. The total size of the offering was $525,000,000 based on an initial share price of $15.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Several equities analysts have recently issued reports on EAF shares. Vertical Group started coverage on shares of GrafTech International in a report on Wednesday, August 1st. They set a “buy” rating for the company. Vertical Research started coverage on shares of GrafTech International in a report on Wednesday, August 1st. They set a “buy” rating and a $29.00 price target for the company. Zacks Investment Research downgraded shares of GrafTech International from a “buy” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets upped their price objective on shares of GrafTech International from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, August 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.60.

EAF stock opened at $17.87 on Tuesday. GrafTech International has a fifty-two week low of $14.00 and a fifty-two week high of $24.36. The company has a debt-to-equity ratio of -2.19, a quick ratio of 1.63 and a current ratio of 2.56.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, August 31st were issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, August 30th.

In related news, Director Gp Ltd Bcp sold 34,688,311 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $19.75, for a total value of $685,094,142.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of hedge funds and other institutional investors have recently modified their holdings of EAF. Bank of Montreal Can acquired a new stake in GrafTech International in the 2nd quarter valued at about $2,513,000. Columbus Circle Investors acquired a new stake in GrafTech International in the 2nd quarter valued at about $10,235,000. First Mercantile Trust Co. acquired a new stake in GrafTech International in the 2nd quarter valued at about $231,000. Vaughan Nelson Investment Management L.P. acquired a new stake in GrafTech International in the 2nd quarter valued at about $22,316,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in GrafTech International in the 2nd quarter valued at about $310,000. 15.06% of the stock is owned by institutional investors.

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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