Ferroglobe PLC $GSM Shares Sold by Walleye Capital LLC

Key Points

• Walleye Capital LLC cut its Ferroglobe PLC stake by 22.2% in the first quarter, selling 337,321 shares and leaving it with 1,185,259 shares worth about $4.9 million.
• Ferroglobe reported a quarterly loss of $0.07 per share on revenue of $347.75 million, and analysts expect the company to post a loss of $0.14 per share for the full year.
• The stock was trading near $3.42, below its 50-day and 200-day moving averages, while analysts currently hold a consensus Hold rating with a $6.00 target price.

Walleye Capital LLC lessened its holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,185,259 shares of the basic materials company's stock after selling 337,321 shares during the period. Walleye Capital LLC owned 0.64% of Ferroglobe worth $4,883,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GSM. Globeflex Capital L P purchased a new stake in shares of Ferroglobe in the first quarter valued at approximately $134,000. Bastion Asset Management Inc. acquired a new position in Ferroglobe during the first quarter worth $4,155,000. Hsbc Holdings PLC acquired a new position in Ferroglobe during the first quarter worth $160,000. R Squared Ltd acquired a new position in Ferroglobe during the first quarter worth $44,000. Finally, Counterpoint Mutual Funds LLC grew its holdings in Ferroglobe by 77.0% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 192,189 shares of the basic materials company's stock valued at $792,000 after buying an additional 83,597 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

Ferroglobe Stock Performance

NASDAQ GSM opened at $3.42 on Thursday. The stock has a fifty day simple moving average of $3.75 and a 200-day simple moving average of $4.34. 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 stock has a market cap of $638.27 million, a PE ratio of -5.70 and a beta of 1.02. Ferroglobe PLC has a twelve month low of $3.10 and a twelve month high of $5.74.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. The company had revenue of $347.75 million during the quarter. Equities analysts anticipate that Ferroglobe PLC will post -0.14 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 22nd were given a dividend of $0.015 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.8%. Ferroglobe's dividend payout ratio (DPR) is currently -10.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ferroglobe in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.00.

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.

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