Donald Smith & CO. Inc. Lowers Stake in Ferroglobe PLC $GSM

Key Points

• Donald Smith & Co. Inc. cut its Ferroglobe stake by 29.1% in the fourth quarter, selling 2.19 million shares and leaving it with 5.36 million shares worth about $24.9 million.
• Several other institutional investors increased their holdings, and 89.64% of Ferroglobe’s stock is owned by hedge funds and other institutions. Separately, insiders were active buyers, with both a director and the chairman purchasing 26,000 shares each at $3.86.
• Ferroglobe’s shares were trading around $3.81 after its latest quarterly loss of $0.07 per share on $347.75 million in revenue. The company also announced a quarterly dividend of $0.015 per share, and analysts currently rate the stock Hold with an average price target of $6.00.

Donald Smith & CO. Inc. reduced its holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 29.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,359,073 shares of the basic materials company's stock after selling 2,194,891 shares during the period. Donald Smith & CO. Inc. owned 2.87% of Ferroglobe worth $24,866,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GSM. Deutsche Bank AG raised its holdings in Ferroglobe by 64.2% in the fourth quarter. Deutsche Bank AG now owns 171,052 shares of the basic materials company's stock worth $794,000 after buying an additional 66,869 shares during the last quarter. LPL Financial LLC raised its holdings in Ferroglobe by 85.2% in the fourth quarter. LPL Financial LLC now owns 150,600 shares of the basic materials company's stock worth $699,000 after buying an additional 69,275 shares during the last quarter. CenterBook Partners LP raised its holdings in Ferroglobe by 59.1% in the fourth quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company's stock worth $6,840,000 after buying an additional 547,847 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Ferroglobe by 87.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company's stock valued at $22,606,000 after purchasing an additional 2,277,344 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Ferroglobe by 16.6% during the fourth quarter. Intech Investment Management LLC now owns 69,931 shares of the basic materials company's stock valued at $324,000 after purchasing an additional 9,975 shares in the last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ferroglobe

In other Ferroglobe news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the stock in a transaction on Monday, March 23rd. The stock was acquired at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the transaction, the director directly owned 121,226 shares of the company's stock, valued at $467,932.36. This trade represents a 27.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Madrid Javier Lopez bought 26,000 shares of Ferroglobe stock in a transaction dated Monday, March 23rd. The stock was purchased at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the purchase, the chairman owned 147,200 shares of the company's stock, valued at approximately $568,192. This trade represents a 21.45% increase in their position. The disclosure for this purchase is available in the SEC filing. 13.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ferroglobe presently has a consensus rating of "Hold" and an average price target of $6.00.

Ferroglobe Stock Down 0.8%

Shares of GSM stock opened at $3.81 on Thursday. Ferroglobe PLC has a 12 month low of $3.51 and a 12 month high of $5.74. The stock has a market cap of $711.06 million, a P/E ratio of -6.35 and a beta of 1.00. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $4.24 and a two-hundred day simple moving average of $4.56.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The firm had revenue of $347.75 million during the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. On average, research analysts expect that Ferroglobe PLC will post -0.09 earnings per share for the current year.

Ferroglobe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.015 per share. The ex-dividend date is Monday, June 22nd. This represents a $0.06 annualized dividend and a yield of 1.6%. Ferroglobe's dividend payout ratio (DPR) is -10.00%.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company's core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe's product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.

Want to see what other hedge funds are holding GSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferroglobe PLC (NASDAQ:GSM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.