..::ticker GTI

Graftech International LTD Aktie ..buran und MfG  

RTK 11,30 $ RTP -0,79 EK 11,39 $ last shares 100 full RT 425.247 peak 11,46  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  25.11.13     11,38     11,46§11,13 11,29 $ 662.053 7,13 M

GrB  

Stuttgart 8,377 € Frankfurt 8,385 € NYSE 12,62 $ buran und MfG und Dreimal Rosamunde  

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GrB  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  26.11.13     11,27    11,385§11,24 11,33 $ 741.592 7,90 M

GrB  

11.33 0.04(0.35%) Nov 26, 4:06PM EST

Prev Close: 11.29
     Open:     11.27          §
      Bid:§9.20 x 100
      Ask:§12.62 x 500
1y Target Est: 11.33
     Beta:       1.4§
Next Earnings Date: N/A
Day's Range: 11.24 - 11.39
52wk Range: 6.41 - 11.74
   Volume:   741,592§
Avg Vol (3m): 1,471,220
Market Cap: 1.53B
P/E (ttm): 51.50
EPS (ttm): 0.22
Div & Yield: N/A (N/A)

http://finance.yahoo.com/q?s=GTI&ql=1  

& Awful
http://www.fool.com/investing/general/2013/11/01/...were-awesome.aspx  

eye on the graphite sector. I recently highlighted Graftech (GTI) eight weeks ago and believed the stock was about to make a major move as it was trading below book value around $10. At that time, Graftech's market cap was below its revenue which signaled an excellent value play. Since that time Graftech has soared over 40% while the S&P500 has gained under 7%. Why is the breakout in Graftech so important for resource investors?
http://seekingalpha.com/article/...ottom-in-steel-sector?source=yahoo  

on Monday following the release of its third quarter results, which were accompanied by a new program to boost the efficiency and effectiveness of the business.
http://seekingalpha.com/article/...rationalization-plans?source=yahoo  

GrafTech generated third quarter revenues of $303.1 million, down 5.5% on the year before.

The company reported a $7.6 million loss compared to a $29.6 million profit a year ago. The fall in earnings was on the back of $14.6 million in rationalization costs as well as negative sales leverage.
http://seekingalpha.com/article/...rationalization-plans?source=yahoo  

To combat the fall in earnings, GrafTech aims to reduce its annual costs by some $75 million, of which $35 million is targeted in 2014. Note that the plan will cost some $105 million of which just $30 million will result in cash outlays.

As part of the program 20% of the workforce will lose their jobs as supply chain efficiencies will yield a $100 million in inventory improvements. Some 600 workers in Brazil, Russia and South Africa will lose their jobs following plant closings in those countries.
http://seekingalpha.com/article/...rationalization-plans?source=yahoo  

As a result of the poor performance and circumstances, full year EBITDA is now seen between $145 and $155 million, compared to a previous guidance of $145 to $165 million.
http://seekingalpha.com/article/...rationalization-plans?source=yahoo  

GrafTech ended its third quarter with $11.5 million in cash and equivalents. The company operates with $576.5 million in total debt, for a net debt position of around $565 million.

Revenues for the first nine months of the year came in at $858.2 million, down 2.2% on the year before. Net profits of $89.0 million last year, shrank to merely $1.0 million. At this pace, annual revenues of around $1.2 billion should be attainable as the company will most likely report a full year loss on a GAAP basis

Factoring in gains of 15% on Monday, shares are trading around $11 per share, valuing the company at $1.5 billion. This values operating assets at 1.2 times annual revenues.

GrafTech does not pay a dividend at the moment.
http://seekingalpha.com/article/...rationalization-plans?source=yahoo  

Long term holders in GrafTech have seen a great deal of volatility, but no real returns. Shares rose from merely $5 in 2005 to highs of $25 in 2008. Shares corrected back to lows of $5 in 2008 to see shares recover to levels in their low twenties in 2011.

On the back of the deteriorating operating performance shares fell to lows of $6 by March of this year. Following Monday's news, shares have recovered to levels around $11 per share, for year to date gains of 15%.

Between 2009 and 2012, GrafTech has increased its annual revenues by a cumulative 90% to $1.25 billion. Earnings rose from $16 million to $118 million after peaking at $175 million in 2010. Note that the outstanding share base increase by little over 10% in the meantime.
http://seekingalpha.com/article/...rationalization-plans?source=yahoo  

GrafTech has grown in recent years, notably on the back of the acquisition of C/G Electrodes LLC and the remainder of the shares of Seadrift Coke LP for a combined $692 million, expanding access to raw materials.

Besides this, GrafTech continues to operate in a long term growth industry as more and diverse end users continue to use graphite. Despite this, Graftech still relies on major steel customers including Arcelor Mittal (MT), Steel Dynamics (STLD) and ThyssenKrupp (TYEKY), among others.

For now investors are not impressed. Trading around $11 per share, the market values GrafTech's enterprise around $2.0 billion, including the assumption of debt. This is not surprising given the fact that adjusted EBITDA came in at $247 million for 2012, valuing the business at around 8 times adjusted EBITDA.

Note however that the valuation is not cheap as EBITDA is seen around $150 million for this year, valuing the business around 13 times EBITDA. Given the prospects for synergies, operations should improve going forwards. On the back of sales leverage and a next potential upturn, Graftech sees the potential for peak EBITDA of $500-$600 million annum. This compares to peak EBITDA of around $369 million in 2008, prompting shares to peak around $26 per share that year.

While such a spike in EBITDA could occur going forwards, this will most likely result in a renewed share price jump upwards, possibly to levels far above $11 per share. Yet after applying through the cycle EBITDA of $300-$400 million per annum, which seems generous, shares are still valued around 5.7 times annual EBITDA.

At this point in the cycle I'll pass on the shares given the volatility of the operations and the reasonable valuation based on through the cycle earnings. That being said, shares could easily be squeezed higher in case of a renewed tightness in the market, but I don't see such a scenario materializing anytime soon.

I remain on the sidelines.
http://seekingalpha.com/article/...rationalization-plans?source=yahoo  

restructuring will not change its rating or negative outlook
Global Credit Research - 04 Nov 2013
New York, November 04, 2013 -- Moody's Investors Service views GrafTech International Ltd.'s planned operational restructuring as a positive first step, but it is not sufficient to change the negative outlook. Moody's remains concerned that these actions may not result in credit metrics returning to levels that would fully support a Ba1 Corporate Family Rating. For more information, please refer to the Issuer Comment posted on moodys.com.

GrafTech International Ltd. manufactures graphite electrodes, refractory products, needle coke products, advanced graphite materials, and natural graphite products. Headquartered in Parma, Ohio, GrafTech generates annual revenues of over $1 billion.

Benjamin Nelson
Asst Vice President - Analyst
Corporate Finance Group
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Alexandra S. Parker
MD - Corporate Finance
Corporate Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Releasing Office:
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653


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https://www.moodys.com/research/...T.mc_id=NLTITLE_YYYYMMDD_PR_285812  

International Soared Today
http://www.fool.com/investing/general/2013/11/04/...tech-interna.aspx  

http://finance.yahoo.com/q/is?s=gti GrB  

Earn 12% Annualized Using Options


Investors eyeing a purchase of Graftech International Ltd. (GTI_) shares, but tentative about paying the going market price of $11.50/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the June 2014 put at the $10 strike, which has a bid at the time of this writing of 70 cents. Collecting that bid as the premium represents a 7% return against the $10 commitment, or a 12% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
http://www.thestreet.com/story/12117475/1/...c=yahoo&cm_ven=YAHOO  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  27.11.13     11,35     11,54§11,34 11,49 $ 716.930 8,23 M

GrB  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  29.11.13     11,56     11,69§11,50 11,52 $ 384.462 4,45 M

GrB  

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  15:30:00§11,4911 $
       100                    §
  15:30:00§11,49 $
30

buran und MfG und danke und weitermachen  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  02.12.13     11,50     11,51§11,06 11,08 $ 973.134 10,4 M

GrB