Ardsley Advisory Partners LP Acquires 135,000 Shares of Ferroglobe PLC $GSM

Key Points

• Ardsley Advisory Partners LP increased its stake in Ferroglobe PLC by 8.1%, now owning 1,802,595 shares worth approximately $6,688,000.
• Ferroglobe recently announced a quarterly dividend of $0.014 per share, with an annualized yield of 1.4%, set to be paid on September 29th.
• The stock is currently rated as a "Hold" by analysts, with the most recent downgrade to "Sell" reflecting concerns following worse-than-expected earnings.

Ardsley Advisory Partners LP raised its holdings in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,802,595 shares of the basic materials company's stock after buying an additional 135,000 shares during the period. Ferroglobe comprises approximately 1.3% of Ardsley Advisory Partners LP's investment portfolio, making the stock its 25th biggest holding. Ardsley Advisory Partners LP owned approximately 0.97% of Ferroglobe worth $6,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GSM. Raymond James Financial Inc. bought a new stake in Ferroglobe in the fourth quarter valued at approximately $42,000. State of Tennessee Department of Treasury bought a new stake in Ferroglobe in the fourth quarter valued at approximately $189,000. Northern Trust Corp raised its stake in Ferroglobe by 25.0% in the fourth quarter. Northern Trust Corp now owns 120,567 shares of the basic materials company's stock valued at $458,000 after buying an additional 24,111 shares during the period. Concentric Capital Strategies LP bought a new stake in Ferroglobe in the fourth quarter valued at approximately $2,078,000. Finally, Deprince Race & Zollo Inc. raised its stake in Ferroglobe by 117.0% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,235,155 shares of the basic materials company's stock valued at $4,694,000 after buying an additional 666,041 shares during the period. Institutional investors own 89.64% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Ferroglobe from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Ferroglobe Price Performance

NASDAQ:GSM traded up $0.10 during trading hours on Friday, reaching $4.28. 673,888 shares of the company were exchanged, compared to its average volume of 942,260. The company has a market capitalization of $798.78 million, a P/E ratio of -7.51 and a beta of 1.69. Ferroglobe PLC has a 1-year low of $2.97 and a 1-year high of $5.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 0.98. The business has a 50 day moving average of $4.28 and a 200 day moving average of $3.89.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The company had revenue of $386.86 million for the quarter, compared to analyst estimates of $398.00 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. Research analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be given a dividend of $0.014 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. Ferroglobe's dividend payout ratio is currently -10.53%.

Ferroglobe 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.