Maven Securities LTD Purchases 67,228 Shares of Ferroglobe PLC $GSM

Key Points

• Maven Securities LTD increased its stake in Ferroglobe PLC by 168.1% in the first quarter, holding a total of 107,228 shares worth $398,000.
• Ferroglobe's recent earnings report showed a loss of ($0.08) earnings per share, missing analysts' expectations, with revenue of $386.86 million.
• The company announced a quarterly dividend of $0.014 per share, yielding 1.3%, with an ex-dividend date of September 22nd.

Maven Securities LTD grew its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 168.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 107,228 shares of the basic materials company's stock after purchasing an additional 67,228 shares during the quarter. Maven Securities LTD owned about 0.06% of Ferroglobe worth $398,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GSM. LPL Financial LLC acquired a new position in Ferroglobe in the fourth quarter valued at $42,000. JPMorgan Chase & Co. raised its position in shares of Ferroglobe by 213.3% in the 4th quarter. JPMorgan Chase & Co. now owns 183,035 shares of the basic materials company's stock worth $696,000 after acquiring an additional 124,622 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ferroglobe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock valued at $857,000 after purchasing an additional 2,760 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Ferroglobe by 47.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 167,570 shares of the basic materials company's stock worth $637,000 after purchasing an additional 53,756 shares during the period. Finally, Legal & General Group Plc increased its holdings in Ferroglobe by 12.1% in the fourth quarter. Legal & General Group Plc now owns 86,965 shares of the basic materials company's stock worth $331,000 after purchasing an additional 9,400 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Stock Up 4.5%

Shares of NASDAQ:GSM traded up $0.19 during mid-day trading on Friday, hitting $4.37. 1,073,379 shares of the company traded hands, compared to its average volume of 1,446,903. The stock has a 50-day moving average price of $4.18 and a two-hundred day moving average price of $3.87. The stock has a market cap of $815.57 million, a P/E ratio of -7.67 and a beta of 1.62. 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 12-month low of $2.97 and a 12-month high of $5.12.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The firm had revenue of $386.86 million for 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%. On average, equities research analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Ferroglobe from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

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.