CenterBook Partners LP Purchases 224,864 Shares of Ferroglobe PLC (NASDAQ:GSM)

CenterBook Partners LP increased its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 10.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,425,772 shares of the basic materials company's stock after acquiring an additional 224,864 shares during the quarter. CenterBook Partners LP owned about 1.30% of Ferroglobe worth $9,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GSM. Donald Smith & CO. Inc. boosted its stake in Ferroglobe by 852.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company's stock worth $22,614,000 after acquiring an additional 5,326,051 shares during the last quarter. Lloyd Harbor Capital Management LLC acquired a new stake in Ferroglobe during the 4th quarter worth approximately $5,605,000. Graham Capital Management L.P. raised its holdings in Ferroglobe by 1,185.6% during the 4th quarter. Graham Capital Management L.P. now owns 912,398 shares of the basic materials company's stock worth $3,467,000 after buying an additional 841,427 shares during the period. Wolf Hill Capital Management LP raised its holdings in 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 worth $27,499,000 after buying an additional 714,726 shares during the period. Finally, Deprince Race & Zollo Inc. raised its holdings in Ferroglobe by 117.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,235,155 shares of the basic materials company's stock worth $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 upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

Ferroglobe Stock Down 2.6%

Shares of GSM traded down $0.12 during mid-day trading on Friday, hitting $4.43. 1,578,067 shares of the company's stock were exchanged, compared to its average volume of 1,223,399. The company has a market cap of $826.77 million, a PE ratio of -13.42 and a beta of 1.57. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $5.98. The company has a 50-day simple moving average of $3.97 and a 200 day simple moving average of $3.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.66 and a quick ratio of 1.00.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The business had revenue of $307.18 million for the quarter, compared to the consensus estimate of $336.00 million. Ferroglobe had a positive return on equity of 1.93% and a negative net margin of 3.80%. On average, research analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.014 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.06 annualized dividend and a dividend yield of 1.26%. Ferroglobe's dividend payout ratio is currently -18.18%.

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.