Royce & Associates LP Raises Stock Position in Ferroglobe PLC (NASDAQ:GSM)

Royce & Associates LP boosted its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,387,958 shares of the basic materials company’s stock after acquiring an additional 660,980 shares during the period. Royce & Associates LP’s holdings in Ferroglobe were worth $12,874,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GSM. Bank of Montreal Can lifted its position in Ferroglobe by 234.5% during the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock valued at $15,958,000 after purchasing an additional 2,442,507 shares during the last quarter. Old West Investment Management LLC lifted its holdings in shares of Ferroglobe by 158.0% in 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 acquiring an additional 1,781,024 shares during the last quarter. River Global Investors LLP bought a new stake in shares of Ferroglobe in the 4th quarter worth approximately $2,408,000. Point72 Asset Management L.P. lifted its holdings 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 acquiring an additional 368,300 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of 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 worth $7,717,000 after acquiring an additional 197,317 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors.

Ferroglobe Trading Up 0.2 %

Shares of GSM opened at $4.04 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. Ferroglobe PLC has a fifty-two week low of $3.23 and a fifty-two week high of $6.19. The firm has a 50 day moving average price of $3.86 and a 200-day moving average price of $4.12. The firm has a market cap of $759.06 million, a price-to-earnings ratio of 202.00 and a beta of 1.89.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The company had revenue of $367.51 million for the quarter, compared to the consensus estimate of $393.00 million. As a group, equities research analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 20th will be paid a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.39%. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. Ferroglobe’s payout ratio is presently 250.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in 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 report on Monday, February 24th.

About Ferroglobe

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.