Boston Partners Boosts Stock Position in Ferroglobe PLC $GSM

Key Points

• Boston Partners significantly increased its stake in Ferroglobe PLC by 622.2%, acquiring 1,333,772 shares in the first quarter, bringing its total ownership to 1,548,152 shares worth approximately $5.74 million.
• Ferroglobe's quarterly earnings report showed a loss of ($0.08) per share, falling short of analysts' expectations, with revenue of $386.86 million, below the anticipated $398 million.
• The company announced a quarterly dividend of $0.014 per share, to be paid on September 29th, which represents a dividend yield of 1.3%.

Boston Partners grew its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 622.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,548,152 shares of the basic materials company's stock after purchasing an additional 1,333,772 shares during the period. Boston Partners owned approximately 0.83% of Ferroglobe worth $5,743,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GSM. LPL Financial LLC acquired a new position in Ferroglobe during the fourth quarter worth $42,000. JPMorgan Chase & Co. lifted its stake in Ferroglobe by 213.3% during the fourth quarter. JPMorgan Chase & Co. now owns 183,035 shares of the basic materials company's stock worth $696,000 after purchasing an additional 124,622 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ferroglobe by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock valued at $857,000 after acquiring an additional 2,760 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ferroglobe by 47.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 167,570 shares of the basic materials company's stock valued at $637,000 after acquiring an additional 53,756 shares in the last quarter. 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 acquiring an additional 9,400 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut 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, According to data from MarketBeat, Ferroglobe presently has an average rating of "Hold".

Ferroglobe Stock Up 3.5%

NASDAQ:GSM traded up $0.1450 during trading hours on Friday, hitting $4.3250. The company's stock had a trading volume of 344,253 shares, compared to its average volume of 1,260,108. The stock has a market capitalization of $807.17 million, a P/E ratio of -7.58 and a beta of 1.62. The stock has a fifty day moving average of $4.17 and a 200-day moving average of $3.87. The company has a current ratio of 1.56, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. Ferroglobe PLC has a 52-week low of $2.97 and a 52-week high of $5.12.

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

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 22nd. Ferroglobe's dividend payout ratio is -10.53%.

About Ferroglobe

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.