Ferroglobe PLC (NASDAQ:GSM) Shares Sold by Diametric Capital LP

Diametric Capital LP lowered its stake in Ferroglobe PLC (NASDAQ:GSM) by 63.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 66,194 shares of the basic materials company’s stock after selling 115,641 shares during the quarter. Diametric Capital LP’s holdings in Ferroglobe were worth $252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GSM. Old West Investment Management LLC increased its stake in 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. Royce & Associates LP boosted its stake in shares of Ferroglobe by 24.2% in the fourth quarter. Royce & Associates LP now owns 3,387,958 shares of the basic materials company’s stock worth $12,874,000 after acquiring an additional 660,980 shares during the last quarter. River Global Investors LLP purchased a new stake in shares of Ferroglobe during the fourth quarter worth approximately $2,408,000. Point72 Asset Management L.P. raised its stake in 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 valued at $1,854,000 after purchasing an additional 368,300 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Ferroglobe by 10.8% in the 4th quarter. First Eagle Investment Management LLC now owns 2,030,772 shares of the basic materials company’s stock valued at $7,717,000 after purchasing an additional 197,317 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GSM. StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seaport Res Ptn lowered shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th.

Ferroglobe Price Performance

NASDAQ:GSM opened at $3.69 on Wednesday. Ferroglobe PLC has a one year low of $3.23 and a one year high of $6.19. The stock has a market cap of $693.30 million, a PE ratio of 184.50 and a beta of 1.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The stock has a 50 day moving average price of $3.83 and a 200 day moving average price of $4.09.

Ferroglobe (NASDAQ:GSM) last issued its 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. The business had revenue of $367.51 million during the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Equities research analysts expect 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. Shareholders of record on Thursday, March 20th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 1.52%. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, March 20th. Ferroglobe’s payout ratio is presently 250.00%.

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.