The Undavia group's aggressive accumulation, particularly the 225,784-share purchase on 9/16 at a higher price (~$8.11), signals strong conviction. Monitor for further open-market buying or potential escalation of board engagement, though the filing maintains an investment-only purpose.
Price Chart
Executive Summary
Nilesh Undavia and family filed Amendment No. 3 to their Schedule 13D, reporting beneficial ownership of 2,211,504 shares (8.5%) of GrafTech International. The filing discloses recent open-market purchases totaling approximately $2.09 million between September 8-16, 2026, including a large 225,784-share purchase by the Nilesh P Undavia 2018 Trust on September 16 at ~$8.11/share. The stated purpose remains investment, with no new activist demands or changes to the existing cooperation agreement.
Key Financial Metrics
Key Facts
- Reporting persons beneficially own 2,211,504 shares, or 8.5% of GrafTech common stock, up from 1,730,895 shares (post-split) reported in Amendment No. 2.
- Recent open-market purchases totaling $2,086,313.18: 20,000 shares by Liliana Arsenio-Undavia 2018 Trust on 9/8 ($132,575), 20,000 shares by Nilesh Undavia IRA on 9/9 ($123,567), and 225,784 shares by Nilesh P Undavia 2018 Trust on 9/16 ($1,830,171).
- The largest purchase (225,784 shares at ~$8.11) on 9/16 represents a significant escalation in stake size and conviction.
- Aggregate purchase price for all 2,211,504 shares is approximately $46,135,312.
- The filing notes a 1-for-10 reverse stock split effective August 29, 2025; all share figures are post-split.
- No new activist demands or changes to the cooperation agreement; purpose remains investment.
Financial Impact
Recent purchases total ~$2.09 million, increasing the group's stake to 8.5% from a prior post-split equivalent of ~6.6%.
Risk Factors
- GrafTech's financial performance remains challenged (per the 10-K cross-filing context); the activist's thesis depends on industry recovery.
- The group's 8.5% stake is below typical thresholds for forcing board changes without a proxy contest.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0001944761-26-000004 |
| Document: 0001944761-26-000004-index.html | 0001944761-26-000004 |
| Document: 0001944761-26-000004.txt | 0001944761-26-000004 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K/A | $10.46 | awaiting T+60 | — | $11.48 (−9.75%) |
Oct 23, 2026 4d ago | 8-K | $8.51 | awaiting T+60 | — | $11.48 (−34.90%) |
Sep 22, 2026 4w ago | Institutional Cluster | $11.21 | awaiting T+60 | — | $11.48 (+2.41%) |
Sep 18, 2026 5w ago | SC 13D/A | $9.36 | awaiting T+60 | — | $11.48 (+22.65%) |
Jul 24, 2026 13w ago | 8-K | $7.44 $7.41 | ▼ −0.40% | ▼ −3.69% | $11.48 (+54.30%) |
Jun 12, 2026 19w ago | Institutional Cluster | $8.55 $6.30 | ▼ −26.32% | ▼ −29.58% | $11.48 (+34.27%) |
May 29, 2026 21w ago | 8-K | $10.14 $6.70 | ▲ +33.93% | ▲ +35.16% | $11.48 (−13.21%) |
May 29, 2026 21w ago | 424B5 | $10.14 $6.70 | ▲ +33.93% | ▲ +35.16% | $11.48 (−13.21%) |
May 28, 2026 21w ago | EFFECT | $10.00 $6.83 | ▲ +31.70% | ▲ +33.44% | $11.48 (−14.80%) |
May 22, 2026 22w ago | S-3 | $9.08 $7.02 | ▲ +22.69% | ▲ +25.41% | $11.48 (−26.43%) |
US Market Status
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