Donald Smith & CO. Inc. Buys 5,326,051 Shares of Ferroglobe PLC (NASDAQ:GSM)

Donald Smith & CO. Inc. lifted its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 852.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,951,051 shares of the basic materials company’s stock after purchasing an additional 5,326,051 shares during the quarter. Donald Smith & CO. Inc.’s holdings in Ferroglobe were worth $22,614,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC increased its stake in shares of Ferroglobe by 78.1% in the third quarter. HighTower Advisors LLC now owns 28,103 shares of the basic materials company’s stock valued at $131,000 after buying an additional 12,326 shares during the period. Point72 Asset Management L.P. grew its holdings in Ferroglobe by 1,180.4% during 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 acquiring an additional 368,300 shares during the last quarter. State Street Corp increased its position in Ferroglobe by 1.6% in the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock valued at $757,000 after acquiring an additional 2,615 shares during the period. XTX Topco Ltd bought a new position in shares of Ferroglobe during the third quarter valued at $150,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Ferroglobe during the third quarter worth $99,000. 89.64% of the stock is currently owned by institutional investors.

Ferroglobe Stock Up 1.4 %

Ferroglobe stock opened at $3.74 on Thursday. The firm has a market cap of $702.69 million, a price-to-earnings ratio of 187.00 and a beta of 1.89. Ferroglobe PLC has a 52-week low of $3.23 and a 52-week high of $6.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The firm has a 50 day moving average price of $3.82 and a two-hundred day moving average price of $4.09.

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

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 20th were given a dividend of $0.014 per share. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.50%. Ferroglobe’s dividend payout ratio is presently 250.00%.

Wall Street Analysts Forecast Growth

GSM has been the subject of a number of recent research reports. StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seaport Res Ptn cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

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.