Donald Smith & CO. Inc. Makes New Investment in Ferroglobe PLC (NASDAQ:GSM)

Donald Smith & CO. Inc. bought a new stake in Ferroglobe PLC (NASDAQ:GSM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 625,000 shares of the basic materials company’s stock, valued at approximately $2,900,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hosking Partners LLP grew its holdings in shares of Ferroglobe by 48.7% during the 2nd quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock worth $48,824,000 after purchasing an additional 2,981,907 shares in the last quarter. Thomist Capital Management LP raised its position in shares of Ferroglobe by 159.3% in the 2nd quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company’s stock valued at $18,031,000 after buying an additional 1,924,879 shares in the last quarter. Old West Investment Management LLC lifted its holdings in shares of Ferroglobe by 880.4% during the 2nd quarter. Old West Investment Management LLC now owns 1,127,477 shares of the basic materials company’s stock worth $6,043,000 after acquiring an additional 1,012,477 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Ferroglobe by 15.2% in the second 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 acquiring an additional 1,003,918 shares during the last quarter. Finally, Tyro Capital Management LLC raised its position in Ferroglobe by 79.4% during the first quarter. Tyro Capital Management LLC now owns 1,992,274 shares of the basic materials company’s stock valued at $9,922,000 after purchasing an additional 881,976 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Ferroglobe Price Performance

NASDAQ GSM traded down $0.02 during trading on Wednesday, hitting $4.26. 104,644 shares of the company’s stock were exchanged, compared to its average volume of 1,353,232. The company has a market cap of $798.47 million, a PE ratio of 12.59 and a beta of 1.83. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a fifty-two week low of $4.07 and a fifty-two week high of $6.78. The stock’s 50 day moving average price is $4.38 and its two-hundred day moving average price is $5.05.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. The business had revenue of $451.05 million during the quarter, compared to analysts’ expectations of $425.55 million. During the same period in the prior year, the company earned $0.30 EPS. Research analysts expect that Ferroglobe PLC will post 0.28 EPS for the current year.

Ferroglobe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were paid a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, September 20th. Ferroglobe’s payout ratio is 14.71%.

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.