Cannell & Spears LLC Boosts Stock Holdings in Ferroglobe PLC (NASDAQ:GSM)

Cannell & Spears LLC increased its position in Ferroglobe PLC (NASDAQ:GSM) by 37.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 175,005 shares of the basic materials company’s stock after acquiring an additional 47,500 shares during the period. Cannell & Spears LLC owned about 0.09% of Ferroglobe worth $665,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of Ferroglobe in the 4th quarter worth $37,000. Raymond James Financial Inc. bought a new stake in Ferroglobe in the 4th quarter worth about $42,000. LPL Financial LLC purchased a new position in Ferroglobe in the 4th quarter worth about $42,000. Barclays PLC bought a new position in Ferroglobe during the 3rd quarter valued at about $44,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Ferroglobe during the 4th quarter valued at about $77,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Trading Up 1.9 %

Shares of NASDAQ:GSM opened at $3.71 on Tuesday. The stock’s 50-day simple moving average is $3.83 and its two-hundred day simple moving average is $4.10. The stock has a market capitalization of $697.05 million, a price-to-earnings ratio of 185.50 and a beta of 1.89. Ferroglobe PLC has a 52-week low of $3.23 and a 52-week high of $6.19. 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 (NASDAQ:GSM) last announced its earnings results 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 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. Analysts expect that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 20th were given a dividend of $0.014 per share. The ex-dividend date of this dividend was Thursday, March 20th. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.51%. Ferroglobe’s payout ratio is 250.00%.

Analyst Upgrades and Downgrades

GSM has been the topic of a number of research analyst reports. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st.

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.