Concentric Capital Strategies LP acquired a new position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 546,942 shares of the basic materials company's stock, valued at approximately $2,078,000. Concentric Capital Strategies LP owned about 0.29% of Ferroglobe at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in GSM. Geode Capital Management LLC lifted its holdings in Ferroglobe by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock worth $857,000 after acquiring an additional 2,760 shares during the period. New York State Common Retirement Fund raised its stake in shares of Ferroglobe by 48.9% in the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company's stock valued at $84,000 after buying an additional 7,271 shares during the period. Qtron Investments LLC raised its stake in shares of Ferroglobe by 49.7% in the fourth quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company's stock valued at $85,000 after buying an additional 7,396 shares during the period. XTX Topco Ltd raised its stake in shares of Ferroglobe by 23.0% in the fourth quarter. XTX Topco Ltd now owns 39,653 shares of the basic materials company's stock valued at $151,000 after buying an additional 7,427 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Ferroglobe by 12.1% in the fourth quarter. Legal & General Group Plc now owns 86,965 shares of the basic materials company's stock valued at $331,000 after buying an additional 9,400 shares during the period. 89.64% of the stock is currently owned by institutional investors.
Ferroglobe Stock Performance
Shares of NASDAQ GSM remained flat at $4.06 during mid-day trading on Tuesday. The stock had a trading volume of 727,719 shares, compared to its average volume of 1,169,845. The firm has a market capitalization of $757.70 million, a P/E ratio of 203.00 and a beta of 1.69. Ferroglobe PLC has a one year low of $2.97 and a one year high of $6.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. The business's 50-day simple moving average is $3.63 and its 200-day simple moving average is $3.89.
Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The business had revenue of $307.18 million for the quarter, compared to analysts' expectations of $336.00 million. As a group, equities research analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.
Ferroglobe Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 1.38%. The ex-dividend date is Wednesday, June 18th. Ferroglobe's dividend payout ratio is presently -15.15%.
Analysts Set New Price Targets
Several analysts have issued reports on GSM shares. StockNews.com lowered Ferroglobe from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Seaport Res Ptn cut Ferroglobe from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th.
Check Out Our Latest Stock Analysis 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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