Ferroglobe PLC (NASDAQ:GSM) Shares Sold by Cohen Capital Management Inc.

Cohen Capital Management Inc. reduced its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 24.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 48,412 shares of the basic materials company’s stock after selling 15,681 shares during the quarter. Cohen Capital Management Inc.’s holdings in Ferroglobe were worth $184,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Legacy Capital Group California Inc. grew its holdings in Ferroglobe by 382.0% during the third quarter. Legacy Capital Group California Inc. now owns 53,618 shares of the basic materials company’s stock worth $249,000 after acquiring an additional 42,493 shares during the period. Donald Smith & CO. Inc. purchased a new stake in Ferroglobe in the 3rd quarter worth approximately $2,900,000. Old West Investment Management LLC grew its stake in shares of Ferroglobe by 233.4% during the 3rd quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock worth $17,439,000 after purchasing an additional 2,631,024 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Ferroglobe by 26.8% during the 3rd quarter. GSA Capital Partners LLP now owns 114,691 shares of the basic materials company’s stock valued at $532,000 after purchasing an additional 24,245 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Ferroglobe by 3.6% in the 3rd quarter. Royce & Associates LP now owns 2,726,978 shares of the basic materials company’s stock valued at $12,653,000 after purchasing an additional 94,260 shares during the period. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday.

Ferroglobe Price Performance

Shares of Ferroglobe stock opened at $3.49 on Friday. The firm has a market cap of $654.78 million, a PE ratio of 174.25 and a beta of 1.83. Ferroglobe PLC has a twelve month low of $3.45 and a twelve month high of $6.19. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $3.92 and a 200 day moving average price of $4.22.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The business had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. Sell-side analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be given a dividend of $0.014 per share. The ex-dividend date of this dividend is Thursday, March 20th. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 1.61%. Ferroglobe’s dividend payout ratio is currently 250.00%.

Ferroglobe Company 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.