Man Investment Partners US LP Invests $6.02 Million in Ferroglobe PLC $GSM

Man Investment Partners US LP bought a new position in Ferroglobe PLC (NASDAQ:GSM) in the 4th quarter, Holdings Channel reports. The firm bought 1,297,552 shares of the basic materials company’s stock, valued at approximately $6,021,000. Ferroglobe comprises about 9.4% of Man Investment Partners US LP’s portfolio, making the stock its 2nd largest holding.

Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Ferroglobe by 22.0% in the 4th quarter. SG Americas Securities LLC now owns 14,509 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 2,617 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Ferroglobe by 23.2% in the 4th quarter. Covestor Ltd now owns 14,160 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 2,670 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 2,740 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 3,146 shares during the last quarter. Finally, R Squared Ltd lifted its holdings in shares of Ferroglobe by 35.8% in the 3rd quarter. R Squared Ltd now owns 13,941 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 3,677 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One equities research 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.00.

Insider Activity

In related news, Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of Ferroglobe stock in a transaction that occurred on Monday, March 23rd. The shares were bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the purchase, the director directly owned 121,226 shares of the company’s stock, valued at approximately $467,932.36. This represents a 27.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Madrid Javier Lopez purchased 26,000 shares of Ferroglobe stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the purchase, the chairman directly owned 147,200 shares in the company, valued at $568,192. This trade represents a 21.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 13.07% of the company’s stock.

Ferroglobe Trading Down 3.5%

GSM stock opened at $3.84 on Wednesday. The company has a market capitalization of $716.66 million, a PE ratio of -6.40 and a beta of 1.00. Ferroglobe PLC has a 12 month low of $3.51 and a 12 month high of $5.74. The firm’s 50-day moving average is $4.23 and its 200 day moving average is $4.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.43 and a quick ratio of 0.80.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) EPS for the quarter. The company had revenue of $347.75 million during the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. On average, research analysts anticipate that Ferroglobe PLC will post -0.09 EPS for the current year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 22nd will be paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, June 22nd. Ferroglobe’s dividend payout ratio (DPR) is currently -10.00%.

Ferroglobe Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.