272 Capital LP Reduces Holdings in Ferroglobe PLC (NASDAQ:GSM)

272 Capital LP trimmed its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 65.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,160 shares of the basic materials company’s stock after selling 269,095 shares during the quarter. 272 Capital LP owned approximately 0.08% of Ferroglobe worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hosking Partners LLP lifted its holdings in Ferroglobe by 48.7% in the 2nd quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock worth $48,824,000 after buying an additional 2,981,907 shares during the period. Old West Investment Management LLC raised its holdings in shares of Ferroglobe by 233.4% during the third quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock valued at $17,439,000 after acquiring an additional 2,631,024 shares in the last quarter. Bank of Montreal Can lifted its stake in Ferroglobe by 234.5% in 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 acquiring an additional 2,442,507 shares during the period. Thomist Capital Management LP boosted its holdings in Ferroglobe by 159.3% in the second quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company’s stock valued at $18,031,000 after acquiring an additional 1,924,879 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Ferroglobe by 15.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,621,112 shares of the basic materials company’s stock valued at $40,849,000 after purchasing an additional 1,003,918 shares during the period. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Down 0.2 %

GSM stock opened at $4.36 on Friday. The company has a market capitalization of $817.19 million, a price-to-earnings ratio of 18.17 and a beta of 1.88. The business’s 50 day moving average price is $4.40 and its two-hundred day moving average price is $4.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83. Ferroglobe PLC has a fifty-two week low of $3.99 and a fifty-two week high of $6.78.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. The firm had revenue of $433.53 million for the quarter, compared to the consensus estimate of $443.50 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. As a group, analysts forecast that Ferroglobe PLC will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be issued a $0.013 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.19%. Ferroglobe’s dividend payout ratio (DPR) is presently 20.83%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th.

Ferroglobe 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.