Ameriprise Financial Inc. Sells 369,036 Shares of Ferroglobe PLC (NASDAQ:GSM)

Ameriprise Financial Inc. cut its holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,846,058 shares of the basic materials company's stock after selling 369,036 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.98% of Ferroglobe worth $7,015,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Heck Capital Advisors LLC bought a new position in Ferroglobe in the 4th quarter worth approximately $37,000. Raymond James Financial Inc. bought a new position in Ferroglobe in the 4th quarter worth approximately $42,000. LPL Financial LLC bought a new position in Ferroglobe in the 4th quarter worth approximately $42,000. Barclays PLC bought a new position in Ferroglobe in the 3rd quarter worth about $44,000. Finally, RPO LLC bought a new position in Ferroglobe in the 4th quarter worth about $53,000. 89.64% of the stock is owned by institutional investors.

Ferroglobe Price Performance

Shares of NASDAQ GSM traded down $0.05 during mid-day trading on Wednesday, reaching $3.85. 25,465 shares of the company were exchanged, compared to its average volume of 1,133,870. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $6.12. 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 stock has a market capitalization of $717.58 million, a PE ratio of 191.75 and a beta of 1.69. The company's 50 day moving average price is $3.60 and its 200 day moving average price is $3.86.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The company had revenue of $307.18 million for the quarter, compared to the consensus estimate of $336.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Sell-side analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Wednesday, June 18th will be given a $0.014 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.06 dividend on an annualized basis and a yield of 1.46%. Ferroglobe's payout ratio is -15.15%.

Wall Street Analyst Weigh In

GSM has been the subject of several analyst reports. Seaport Res Ptn downgraded shares of Ferroglobe from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Wall Street Zen downgraded 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.