By otakuyassine3@gmail.com 
HighTower Advisors LLC trimmed its position in shares of Ferroglobe PLC (NASDAQ:GSM – Free Report) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,765 shares of the basic materials company’s stock after selling 3,338 shares during the period. HighTower Advisors LLC’s holdings in Ferroglobe were worth $94,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Old West Investment Management LLC grew its position in shares of Ferroglobe by 158.0% during the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after buying an additional 1,781,024 shares in the last quarter. Barclays PLC bought a new position in Ferroglobe during the 3rd quarter worth about $44,000. State Street Corp grew its holdings in Ferroglobe by 1.6% during the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock worth $757,000 after acquiring an additional 2,615 shares in the last quarter. Hosking Partners LLP raised its holdings in shares of Ferroglobe by 1.8% in the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock valued at $34,216,000 after purchasing an additional 159,845 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Ferroglobe by 1,180.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 368,300 shares during the period. 89.64% of the stock is owned by hedge funds and other institutional investors.
Ferroglobe Stock Down 2.6 %
Ferroglobe stock opened at $3.35 on Friday. Ferroglobe PLC has a 1-year low of $3.19 and a 1-year high of $6.19. The business has a fifty day moving average price of $3.80 and a 200-day moving average price of $4.08. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. The stock has a market capitalization of $629.41 million, a price-to-earnings ratio of 167.50 and a beta of 1.89.
Ferroglobe (NASDAQ:GSM – Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The business had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. Equities research analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.
Ferroglobe Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 20th were issued a dividend of $0.014 per share. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.67%. Ferroglobe’s payout ratio is 250.00%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on GSM. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.
Read Our Latest Stock Report on GSM
Ferroglobe Profile
Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.
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