Ferroglobe PLC $GSM Stock Sold by General American Investors Co. Inc.

General American Investors Co. Inc. lessened its stake in Ferroglobe PLC (NASDAQ:GSM) by 44.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 461,283 shares of the basic materials company’s stock after selling 366,308 shares during the period. General American Investors Co. Inc.’s holdings in Ferroglobe were worth $1,834,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bastion Asset Management Inc. bought a new position in Ferroglobe in the 1st quarter valued at $4,155,000. Donald Smith & CO. Inc. bought a new stake in shares of Ferroglobe during the second quarter worth $25,843,000. Sei Investments Co. raised its position in shares of Ferroglobe by 67.0% during the first quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company’s stock worth $2,634,000 after acquiring an additional 256,449 shares during the last quarter. SummerHaven Investment Management LLC acquired a new position in shares of Ferroglobe during the third quarter valued at $530,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Ferroglobe during the second quarter valued at $544,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Insider Activity at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $4.30, for a total value of $138,855.60. Following the completion of the sale, the insider owned 31,693 shares in the company, valued at approximately $136,279.90. This represents a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.07% of the stock is currently owned by company insiders.

Ferroglobe Trading Up 1.2%

GSM traded up $0.03 during trading on Friday, reaching $2.56. 2,670,308 shares of the company’s stock were exchanged, compared to its average volume of 1,220,270. The company’s fifty day moving average price is $4.07 and its 200-day moving average price is $4.18. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.29. Ferroglobe PLC has a fifty-two week low of $2.50 and a fifty-two week high of $5.66. The firm has a market capitalization of $477.77 million, a PE ratio of 16.00 and a beta of 1.21.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $369.76 million for the quarter, compared to the consensus estimate of $382.80 million. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%. As a group, equities analysts forecast that Ferroglobe PLC will post -0.05 EPS for the current year.

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 22nd will be paid a dividend of $0.0150 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.3%. Ferroglobe’s payout ratio is 37.50%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GSM shares. Jefferies Financial Group set a $5.00 price target on Ferroglobe in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ferroglobe in a report on Monday. Wall Street Zen upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Needham & Company LLC set a $5.00 target price on shares of Ferroglobe in a research note on Friday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.33.

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.