Ferroglobe PLC $GSM Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Ferroglobe PLC by 820.5% in the first quarter, owning 341,479 shares after acquiring an additional 304,381 shares.
• Ferroglobe reported a quarterly earnings miss with an EPS of (0.08), falling short of the consensus estimate of (0.02), alongside revenues of $386.86 million.
• The company announced a quarterly dividend of $0.014, which will be paid on September 29th, reflecting a dividend yield of 1.3%.

Charles Schwab Investment Management Inc. lifted its position in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 820.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,479 shares of the basic materials company's stock after acquiring an additional 304,381 shares during the period. Charles Schwab Investment Management Inc. owned 0.18% of Ferroglobe worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in GSM. Heck Capital Advisors LLC purchased a new position in Ferroglobe during the fourth quarter worth approximately $37,000. Creative Financial Designs Inc. ADV purchased a new position in Ferroglobe during the first quarter worth approximately $37,000. PNC Financial Services Group Inc. purchased a new position in Ferroglobe during the first quarter worth approximately $38,000. Raymond James Financial Inc. purchased a new position in Ferroglobe during the fourth quarter worth approximately $42,000. Finally, PFG Investments LLC purchased a new position in Ferroglobe during the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Price Performance

NASDAQ:GSM opened at $4.18 on Tuesday. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $5.12. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $780.11 million, a P/E ratio of -7.33 and a beta of 1.69. The stock's fifty day moving average is $4.24 and its two-hundred day moving average is $3.88.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $386.86 million during the quarter, compared to analysts' expectations of $398.00 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. Equities analysts expect that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, September 22nd. Ferroglobe's payout ratio is currently -10.53%.

Analysts Set New Price Targets

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

Ferroglobe Company 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.

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