Lloyd Harbor Capital Management LLC Invests $5.61 Million in Ferroglobe PLC (NASDAQ:GSM)

Lloyd Harbor Capital Management LLC purchased a new position in Ferroglobe PLC (NASDAQ:GSM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,475,000 shares of the basic materials company’s stock, valued at approximately $5,605,000. Ferroglobe makes up about 3.7% of Lloyd Harbor Capital Management LLC’s holdings, making the stock its 14th biggest position. Lloyd Harbor Capital Management LLC owned approximately 0.79% of Ferroglobe at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GSM. Barclays PLC purchased a new stake in Ferroglobe in the third quarter valued at approximately $44,000. Heck Capital Advisors LLC purchased a new stake in Ferroglobe in the fourth quarter valued at approximately $37,000. State of New Jersey Common Pension Fund D purchased a new stake in Ferroglobe in the fourth quarter valued at approximately $96,000. New York State Common Retirement Fund raised its stake in Ferroglobe by 48.9% in the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 7,271 shares in the last quarter. Finally, Legacy Capital Group California Inc. raised its stake in Ferroglobe by 19.9% in the fourth quarter. Legacy Capital Group California Inc. now owns 64,297 shares of the basic materials company’s stock valued at $244,000 after purchasing an additional 10,679 shares in the last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

Ferroglobe Trading Up 7.8%

GSM stock opened at $3.74 on Monday. The company has a market capitalization of $697.98 million, a PE ratio of 187.00 and a beta of 1.69. 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 one year low of $2.97 and a one year high of $6.19. The company’s 50 day moving average price is $3.61 and its two-hundred day moving average price is $3.89.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The business had revenue of $307.18 million during the quarter, compared to the consensus estimate of $336.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. As a group, analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th will be issued a $0.014 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.50%. Ferroglobe’s payout ratio is -15.15%.

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.