Raymond James Financial Inc. purchased a new stake in Ferroglobe PLC (NASDAQ:GSM – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 11,000 shares of the basic materials company’s stock, valued at approximately $42,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GSM. HighTower Advisors LLC boosted its stake in 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 acquiring an additional 12,326 shares during the last quarter. State Street Corp lifted its stake in shares of 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 purchasing an additional 2,615 shares during the period. XTX Topco Ltd bought a new position in shares of Ferroglobe in the 3rd quarter worth $150,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Ferroglobe during the third quarter worth $99,000. Finally, Barclays PLC bought a new stake in Ferroglobe in the third quarter valued at about $44,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.
Ferroglobe Trading Up 2.2 %
Shares of NASDAQ GSM opened at $3.31 on Monday. Ferroglobe PLC has a twelve month low of $2.97 and a twelve month high of $6.19. The stock has a market cap of $621.90 million, a price-to-earnings ratio of 165.50 and a beta of 1.58. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average is $3.70 and its 200-day moving average is $4.03.
Ferroglobe (NASDAQ:GSM – Get Free Report) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The firm had revenue of $367.51 million for the quarter, compared to analyst estimates of $393.00 million. Equities research analysts predict that Ferroglobe PLC will post 0.33 EPS for the current year.
Ferroglobe Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 20th were given a $0.014 dividend. The ex-dividend date was Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.69%. Ferroglobe’s payout ratio is currently 250.00%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GSM. StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seaport Res Ptn lowered shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.
Check Out Our Latest Research Report on GSM
Ferroglobe Profile
(Free Report)
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.
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