Ferroglobe PLC $GSM Shares Sold by Wolf Hill Capital Management LP

Key Points

• Wolf Hill Capital Management cut its Ferroglobe stake by 60.9% in the fourth quarter, selling more than 2.38 million shares and leaving it with 1.53 million shares worth about $7.1 million.
• Ferroglobe reported a quarterly loss of $0.07 per share on revenue of $347.75 million, and analysts currently expect the company to post -$0.09 EPS for the year.
• The company declared a quarterly dividend of $0.015 per share payable June 29, while insiders recently bought shares and Wall Street’s consensus rating remains Hold with a $6.00 target price.

Wolf Hill Capital Management LP lowered its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 60.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,533,069 shares of the basic materials company's stock after selling 2,385,163 shares during the period. Ferroglobe makes up approximately 0.8% of Wolf Hill Capital Management LP's portfolio, making the stock its 18th largest position. Wolf Hill Capital Management LP owned about 0.82% of Ferroglobe worth $7,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System acquired a new stake in shares of Ferroglobe during the 2nd quarter worth approximately $27,000. Quadrant Capital Group LLC increased its holdings in shares of Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company's stock worth $37,000 after buying an additional 3,146 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company's stock worth $37,000 after buying an additional 10,173 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company's stock worth $39,000 after buying an additional 2,740 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of Ferroglobe during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 89.64% of the company's stock.

Ferroglobe Stock Performance

NASDAQ:GSM opened at $4.09 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. The stock has a market capitalization of $763.30 million, a P/E ratio of -6.82 and a beta of 1.00. The company has a 50 day moving average price of $4.24 and a 200 day moving average price of $4.56. Ferroglobe PLC has a fifty-two week low of $3.51 and a fifty-two week high of $5.74.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The company had revenue of $347.75 million for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. Equities research analysts forecast that Ferroglobe PLC will post -0.09 EPS for the current year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 22nd will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 22nd. Ferroglobe's dividend payout ratio (DPR) is currently -10.00%.

Insider Activity at Ferroglobe

In other Ferroglobe news, Chairman Madrid Javier Lopez purchased 26,000 shares of the firm's stock in a transaction on Monday, March 23rd. The stock was bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the transaction, the chairman directly owned 147,200 shares of the company's stock, valued at approximately $568,192. This represents a 21.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of the firm's stock in a transaction on Monday, March 23rd. The stock was acquired at an average cost of $3.86 per share, with a total value of $100,360.00. Following the transaction, the director directly owned 121,226 shares in the company, valued at $467,932.36. This trade represents a 27.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 13.07% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.

Want to see what other hedge funds are holding GSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferroglobe PLC (NASDAQ:GSM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.