Ferroglobe PLC (NASDAQ:GSM) Shares Acquired by Donald Smith & CO. Inc.

Key Points

• Donald Smith & CO. Inc. has increased its position in Ferroglobe PLC by 9.6%, owning over 6.5 million shares valued at approximately $24.2 million as of the latest reporting period.
• Ferroglobe recently reported a quarterly loss of ($0.08) EPS, missing analyst expectations, with revenue of $386.86 million compared to projections of $398 million.
• The company's stock has been downgraded by Wall Street Zen from a "hold" to a "sell" rating, coinciding with a 3.3% decline in share price.

Donald Smith & CO. Inc. grew its stake in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,522,510 shares of the basic materials company's stock after buying an additional 571,459 shares during the quarter. Donald Smith & CO. Inc. owned 3.49% of Ferroglobe worth $24,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Ferroglobe by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock worth $857,000 after acquiring an additional 2,760 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Ferroglobe by 2.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 136,756 shares of the basic materials company's stock worth $507,000 after purchasing an additional 3,697 shares in the last quarter. Qtron Investments LLC raised its holdings in Ferroglobe by 49.7% in the 4th quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company's stock worth $85,000 after acquiring an additional 7,396 shares during the last quarter. XTX Topco Ltd lifted its position in Ferroglobe by 23.0% during the fourth quarter. XTX Topco Ltd now owns 39,653 shares of the basic materials company's stock valued at $151,000 after purchasing an additional 7,427 shares during the period. Finally, Legal & General Group Plc lifted its position in Ferroglobe by 12.1% during the fourth quarter. Legal & General Group Plc now owns 86,965 shares of the basic materials company's stock valued at $331,000 after purchasing an additional 9,400 shares during the period. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Trading Up 5.1%

Shares of GSM traded up $0.20 during midday trading on Tuesday, hitting $4.13. The stock had a trading volume of 1,387,801 shares, compared to its average volume of 1,751,421. Ferroglobe PLC has a 1 year low of $2.97 and a 1 year high of $5.12. The firm has a market cap of $770.78 million, a PE ratio of -7.25 and a beta of 1.62. 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 stock's 50 day moving average is $4.15 and its 200 day moving average is $3.86.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly 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 company had revenue of $386.86 million during the quarter, compared to analysts' expectations of $398.00 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. As a group, analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, September 22nd. Ferroglobe's dividend payout ratio is currently -10.53%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Ferroglobe from a "hold" rating to a "sell" rating in a report on Saturday.

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.