Ferroglobe PLC (NASDAQ:GSM) Shares Bought by Ballast Asset Management LP

Ballast Asset Management LP raised its holdings in Ferroglobe PLC (NASDAQ:GSM) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 739,945 shares of the basic materials company’s stock after buying an additional 150,892 shares during the quarter. Ballast Asset Management LP owned about 0.39% of Ferroglobe worth $2,812,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GSM. HighTower Advisors LLC lifted its stake in shares of Ferroglobe by 78.1% during the third quarter. HighTower Advisors LLC now owns 28,103 shares of the basic materials company’s stock worth $131,000 after buying an additional 12,326 shares during the period. Point72 Asset Management L.P. raised 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 acquiring an additional 368,300 shares during the last quarter. State Street Corp lifted its position in Ferroglobe by 1.6% during the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock worth $757,000 after acquiring an additional 2,615 shares during the period. XTX Topco Ltd purchased a new stake in Ferroglobe during the 3rd quarter valued at about $150,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Ferroglobe in the third quarter valued at about $99,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Trading Up 1.9 %

NASDAQ GSM opened at $3.71 on Tuesday. The company has a fifty day moving average of $3.83 and a 200 day moving average of $4.10. The company has a market capitalization of $697.05 million, a PE ratio of 185.50 and a beta of 1.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. Ferroglobe PLC has a 1 year low of $3.23 and a 1 year high of $6.19.

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

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th were paid a dividend of $0.014 per share. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.51%. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GSM shares. StockNews.com downgraded 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 report on Monday, February 24th.

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.