Ferroglobe PLC (NASDAQ:GSM) Shares Bought 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. increased its holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 9.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,522,510 shares of the basic materials company's stock after purchasing an additional 571,459 shares during the quarter. Donald Smith & CO. Inc. owned 3.49% of Ferroglobe worth $24,199,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of GSM. Hosking Partners LLP grew its position in Ferroglobe by 18.1% in the first quarter. Hosking Partners LLP now owns 10,633,729 shares of the basic materials company's stock valued at $39,451,000 after acquiring an additional 1,629,431 shares in the last quarter. Lloyd Harbor Capital Management LLC purchased a new position in shares of Ferroglobe during the 4th quarter valued at approximately $5,605,000. Graham Capital Management L.P. boosted its stake in shares of 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 valued at $3,467,000 after buying an additional 841,427 shares during the last quarter. Wolf Hill Capital Management LP boosted its stake in shares of 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 valued at $27,499,000 after buying an additional 714,726 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of 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 valued at $4,694,000 after buying an additional 666,041 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Ferroglobe from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Ferroglobe Stock Performance

GSM traded down $0.14 during trading hours on Thursday, hitting $4.11. 366,138 shares of the stock were exchanged, compared to its average volume of 1,275,495. The stock has a 50-day simple moving average of $4.16 and a 200-day simple moving average of $3.86. Ferroglobe PLC has a 12 month low of $2.97 and a 12 month high of $5.12. The stock has a market cap of $766.12 million, a price-to-earnings ratio of -7.22 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.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its 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 during the quarter, compared to the consensus estimate of $398.00 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. Analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 22nd will be paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, September 22nd. Ferroglobe's dividend payout ratio (DPR) is presently -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.