On the 1st of March, Brookfield Asset Management sold 30 million GrafTech International Ltd. (NYSE:EAF) shares for $350 million at an average price of $11.67 per share. Shares of GrafTech International Ltd. are down -13.91% since the transaction.
Brookfield Asset Management's holding in GrafTech International Ltd. decreased to about 98 million shares with the transaction.
Brookfield Asset Management first bought GrafTech International Ltd. stock in the second quarter of 2018. Brookfield Asset Management also owns Caterpillar (NYSE:CAT), Flowserve Corp (FLS), Parker-Hannifin Corp (NYSE:PH) and AGCO Corp (AGCO). GrafTech International Ltd. is its number one position by number of shares and market value among machinery stocks.
Other investors who also reduced their GrafTech International Ltd. shares include Hotchkis & Wiley Capital Management, Yacktman Asset Management, and Mitsubishi UFJ (NYSE:MUFG) Securities International. Contrary to Brookfield Asset Management, California State Teachers Retirement System, Citigroup (NYSE:C), and Victory Capital Management added to EAF shares, while Barrow, Hanley, Mewhinney & Strauss, the T. Rowe Price Equity Income Fund, and Rothschild Asset Management introduced EAF shares to their portfolio.