272 Capital LP Cuts Stake in Ferroglobe PLC (NASDAQ:GSM)

272 Capital LP trimmed its holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 91.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the basic materials company's stock after selling 368,501 shares during the period. 272 Capital LP's holdings in Ferroglobe were worth $133,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Ferroglobe by 25.0% during the 4th quarter. Northern Trust Corp now owns 120,567 shares of the basic materials company's stock worth $458,000 after acquiring an additional 24,111 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Ferroglobe in the fourth quarter valued at approximately $1,324,000. Wolf Hill Capital Management LP lifted its stake in shares of Ferroglobe by 11.0% during the 4th quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company's stock valued at $27,499,000 after buying an additional 714,726 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in Ferroglobe in the 4th quarter worth approximately $189,000. Finally, Beck Mack & Oliver LLC grew its stake in Ferroglobe by 32.9% in the 4th quarter. Beck Mack & Oliver LLC now owns 40,400 shares of the basic materials company's stock valued at $154,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Price Performance

Shares of GSM stock traded down $0.06 during trading on Monday, hitting $3.48. The company had a trading volume of 897,381 shares, compared to its average volume of 1,162,051. The stock's 50-day moving average is $3.60 and its two-hundred day moving average is $3.92. The stock has a market capitalization of $649.46 million, a price-to-earnings ratio of 174.00 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. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $6.19.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly 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. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The firm had revenue of $367.51 million for the quarter, compared to analyst estimates of $393.00 million. As a group, analysts predict that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were paid a dividend of $0.014 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.06 annualized dividend and a yield of 1.61%. This is a positive change from Ferroglobe's previous quarterly dividend of $0.01. Ferroglobe's payout ratio is 250.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on GSM. Seaport Res Ptn lowered Ferroglobe from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. StockNews.com cut shares of Ferroglobe from a "buy" rating to a "hold" rating in a report on Friday, February 21st.

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.