Ferroglobe PLC $GSM Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lowered its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 65.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,900 shares of the basic materials company’s stock after selling 207,500 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.06% of Ferroglobe worth $429,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GSM. Covestor Ltd lifted its holdings in shares of Ferroglobe by 28.4% in the third quarter. Covestor Ltd now owns 22,418 shares of the basic materials company’s stock worth $89,000 after buying an additional 4,952 shares in the last quarter. PFG Investments LLC bought a new position in Ferroglobe during the first quarter valued at approximately $45,000. PDT Partners LLC bought a new position in Ferroglobe during the second quarter valued at approximately $44,000. Public Employees Retirement System of Ohio boosted its stake in Ferroglobe by 10.1% during the first quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company’s stock valued at $649,000 after buying an additional 14,422 shares during the last quarter. Finally, Abel Hall LLC purchased a new position in Ferroglobe during the 3rd quarter valued at approximately $61,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of Ferroglobe stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the transaction, the insider directly owned 31,693 shares of the company’s stock, valued at approximately $136,279.90. The trade was a 50.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ferroglobe in a report on Monday, November 2nd. Wall Street Zen raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Needham & Company LLC set a $5.00 price objective on shares of Ferroglobe in a research report on Friday. Finally, Jefferies Financial Group set a $5.00 price objective on shares of Ferroglobe in a research note on Friday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.33.

Ferroglobe Price Performance

Shares of Ferroglobe stock opened at $2.56 on Friday. The stock has a market cap of $477.77 million, a price-to-earnings ratio of 16.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.74 and a current ratio of 1.34. The stock has a 50 day moving average price of $4.07 and a 200-day moving average price of $4.18. Ferroglobe PLC has a one year low of $2.50 and a one year high of $5.66.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $369.76 million for the quarter, compared to analysts’ expectations of $382.80 million. Ferroglobe had a net margin of 2.13% and a negative return on equity of 5.15%. Equities analysts expect that Ferroglobe PLC will post -0.05 EPS for the current year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 22nd will be issued a $0.0150 dividend. This represents a $0.06 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is 37.50%.

Ferroglobe Company Profile

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based alloys. The company manufactures silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloy products used in the production of steel, aluminum, silicones, solar materials and other industrial goods.

Ferroglobe also operates quartz resources and produces related raw materials used in its alloy manufacturing processes. Its products support several industries, including automotive, construction, energy, chemicals, electronics and renewable energy.