River Global Investors LLP Invests $2.41 Million in Ferroglobe PLC (NASDAQ:GSM)

River Global Investors LLP acquired a new stake in shares of Ferroglobe PLC (NASDAQ:GSM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 632,879 shares of the basic materials company’s stock, valued at approximately $2,408,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hosking Partners LLP increased its stake in Ferroglobe by 1.8% in the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after buying an additional 159,845 shares in the last quarter. Bank of Montreal Can grew its position in shares of Ferroglobe by 234.5% during the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock worth $15,958,000 after purchasing an additional 2,442,507 shares in the last quarter. Old West Investment Management LLC raised its stake in Ferroglobe by 158.0% during the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock valued at $13,495,000 after purchasing an additional 1,781,024 shares during the period. Royce & Associates LP lifted its holdings in Ferroglobe by 3.6% in the 3rd quarter. Royce & Associates LP now owns 2,726,978 shares of the basic materials company’s stock worth $12,653,000 after purchasing an additional 94,260 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Ferroglobe by 1,180.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 368,300 shares during the period. 89.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GSM. Seaport Res Ptn cut shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com cut shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Ferroglobe Price Performance

Shares of Ferroglobe stock opened at $3.96 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a 12 month low of $3.23 and a 12 month high of $6.19. The stock has a 50 day moving average of $3.85 and a 200 day moving average of $4.15. The firm has a market cap of $744.02 million, a PE ratio of 198.00 and a beta of 1.89.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $367.51 million during the quarter, compared to analyst estimates of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. On average, research analysts expect that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.41%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. Ferroglobe’s dividend payout ratio is currently 250.00%.

Ferroglobe Company Profile

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.