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In a recent transaction, Timothy K. Flanagan, the CEO and President of GrafTech International Ltd. (NYSE:EAF), acquired 50,000 shares of the company's common stock. According to InvestingPro data, this insider purchase comes as the stock trades near its current Fair Value, with technical indicators suggesting oversold conditions. The purchase, dated February 13, 2025, amounted to a total value of $53,645, with the shares bought at a weighted average price of $1.0729. Prices for the transaction ranged from $1.05 to $1.11 per share. Following this acquisition, Flanagan's direct ownership increased to 73,572 shares. The timing is notable as GrafTech's stock has experienced significant volatility, dropping over 31% in the past week despite a 57% gain over the last six months. InvestingPro subscribers can access 15 additional key insights about GrafTech's financial health and market position through the comprehensive Pro Research Report.
In other recent news, GrafTech International Ltd. has seen significant changes in its executive and board structure. Chief Legal Officer and Corporate Secretary Gina K. Gunning has decided to step down from her role, effective January 24, 2025, to pursue an opportunity outside of the company. In addition, Marcel Kessler, a Class II director, will resign from the Board of Directors effective December 31, 2024.
In the same vein, financial analysts have provided updated assessments of GrafTech's prospects. JPMorgan has issued a Neutral rating for the company's stock, noting several factors contributing to a more balanced risk/reward scenario. Similarly, Citi has increased the price target for GrafTech shares to $2.20, maintaining a Neutral rating, while BMO Capital has also doubled its price target from $1.00 to $2.00, maintaining a Market Perform rating.
These recent developments reflect the ongoing shifts within GrafTech and the broader market's perception of the company. As the search for a new Chief Legal Officer begins and the company navigates the upcoming departure of a board member, investors will likely be watching closely for further updates and implications for the company's strategic direction.
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