Author Topic: EAF - GrafTech  (Read 16426 times)

bjakes00

  • Newbie
  • *
  • Posts: 45
Re: EAF - GrafTech
« Reply #60 on: February 11, 2019, 01:24:16 PM »
They havenít officially changed their minds, it was the price they seemed willing to transact at post the IPO. There wonít be any buybacks until the share price can get back there again.
In any case theyíve committed $100m now to paying down debt which seems prudent.


heth247

  • Hero Member
  • *****
  • Posts: 574
Re: EAF - GrafTech
« Reply #61 on: March 04, 2019, 04:11:22 PM »
Nobody bothered by the S-1 filing today that Brookfield want to sell at $14.36?  I guess the buyer would be the company itself again?

bjakes00

  • Newbie
  • *
  • Posts: 45
Re: EAF - GrafTech
« Reply #62 on: March 05, 2019, 01:33:23 PM »
Not sure the buyer would be the company itself again - they desperately need to get more liquidity in the market. Also would be happy if the company bought some of it but hopefully a large chunk goes to the market.
Interesting that they are willing to transact at this price but it might be BAM recognising that the stock is held back by liquidity. I saw something similar happen with OEC IPO in 2014 and the follow ons - i.e., as soon as they got enough liquidity going the stock was able to start moving more "freely".

bargainhunter

  • Newbie
  • *
  • Posts: 42
Re: EAF - GrafTech
« Reply #63 on: April 23, 2019, 08:33:43 AM »
Big hit after that Citi downgrade. The sellside is typically a great reverse indicator. Does anybody have any insight into the graphic electrode pricing issues/capacity expansion in China they reference (don't have access to the full report)?

peterHK

  • Full Member
  • ***
  • Posts: 199
Re: EAF - GrafTech
« Reply #64 on: May 22, 2019, 10:15:03 AM »
Have to admit, with contracted volume and prices, BAM not selling at this price (given the cancelled secondary), and electrode prices still hanging in there, I'm a little confused as to why EAF trades where it does today.

Either I'm horrendously wrong, or the market is.

valueinvestor

  • Jr. Member
  • **
  • Posts: 97
Re: EAF - GrafTech
« Reply #65 on: May 22, 2019, 10:40:05 AM »
Have to admit, with contracted volume and prices, BAM not selling at this price (given the cancelled secondary), and electrode prices still hanging in there, I'm a little confused as to why EAF trades where it does today.

Either I'm horrendously wrong, or the market is.

You're not wrong, I think my fears lie with the uncontracted cash flows because the current contracted price of $10K may not be enough to support a decrease of 50% in the graphite electrode. Therefore reducing net income by 20%, however I still get a Owner's Earnings/Enterprise Value of less than 8.

I sold when they announced the special dividend, however hoping to take a bit at this again.

heth247

  • Hero Member
  • *****
  • Posts: 574
Re: EAF - GrafTech
« Reply #66 on: May 22, 2019, 12:15:02 PM »
Have to admit, with contracted volume and prices, BAM not selling at this price (given the cancelled secondary), and electrode prices still hanging in there, I'm a little confused as to why EAF trades where it does today.

Either I'm horrendously wrong, or the market is.

EAF is down probably because of what BBU is trying to do with TOO -- squeeze out minority share holders by taking it under.

chrispy

  • Sr. Member
  • ****
  • Posts: 271
Re: EAF - GrafTech
« Reply #67 on: May 22, 2019, 12:31:01 PM »
Agree with heath

tripleoptician

  • Jr. Member
  • **
  • Posts: 94
Re: EAF - GrafTech
« Reply #68 on: May 22, 2019, 03:01:13 PM »
Agree with heath
Main reason I am not adding, but not selling either
Liquidity very low so hard to see their exit strategy without a takeover or having sufficient float for them to sell which isnít happening soon


racemize

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 2724
Re: EAF - GrafTech
« Reply #69 on: May 22, 2019, 04:03:54 PM »
Have to admit, with contracted volume and prices, BAM not selling at this price (given the cancelled secondary), and electrode prices still hanging in there, I'm a little confused as to why EAF trades where it does today.

Either I'm horrendously wrong, or the market is.

EAF is down probably because of what BBU is trying to do with TOO -- squeeze out minority share holders by taking it under.

I don't think this makes sense.  BBU is monetizing this investment--they already took it private and are trying to get the money out, not take it back.