Ferroglobe PLC $GSM Stock: Hosking Partners LLP Lowers Stake

Key Points

• Hosking Partners reduced its Ferroglobe stake by 18.1% in the third quarter, selling 1.86 million shares and retaining 8.37 million shares, or 4.49% of the company. Institutional investors collectively own 89.64% of GSM.
• Ferroglobe shares opened at $4.19, near their 50-day average of $4.20, with a one-year trading range of $3.08 to $5.66. The company declared a quarterly dividend of $0.015 per share, equivalent to a 1.4% annualized yield.
• Analyst sentiment remains mixed: one analyst rates GSM Buy, one Hold and one Sell, producing an overall “Hold” rating and an average price target of $6.00.

Hosking Partners LLP lowered its stake in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 18.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,374,924 shares of the basic materials company's stock after selling 1,855,207 shares during the quarter. Hosking Partners LLP owned 4.49% of Ferroglobe worth $33,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GSM. Abel Hall LLC acquired a new position in shares of Ferroglobe during the third quarter valued at about $61,000. SummerHaven Investment Management LLC bought a new stake in Ferroglobe during the third quarter worth $530,000. Public Employees Retirement System of Ohio purchased a new stake in Ferroglobe in the 2nd quarter valued at $544,000. PDT Partners LLC purchased a new position in Ferroglobe during the 2nd quarter worth $44,000. Finally, Donald Smith & CO. Inc. purchased a new position in Ferroglobe during the 2nd quarter worth $25,843,000. 89.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ferroglobe news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the completion of the transaction, the insider directly owned 31,693 shares of the company's stock, valued at $136,279.90. This trade represents a 50.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.07% of the company's stock.

Ferroglobe Trading Up 1.2%

Shares of GSM stock opened at $4.19 on Thursday. Ferroglobe PLC has a 1 year low of $3.08 and a 1 year high of $5.66. The company's fifty day simple moving average is $4.20 and its two-hundred day simple moving average is $4.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74. The stock has a market capitalization of $781.96 million, a price-to-earnings ratio of -19.05 and a beta of 1.06.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were issued a dividend of $0.0150 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 22nd. Ferroglobe's dividend payout ratio is -27.27%.

Analyst Ratings Changes

GSM has been the subject of several recent analyst reports. Wall Street Zen raised Ferroglobe from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Weiss Ratings lowered shares of Ferroglobe from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $6.00.

About Ferroglobe

Ferroglobe PLC NASDAQ: GSM is a global producer of silicon and manganese-based alloys. The company manufactures silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloy products used in the production of steel, aluminum, silicones, solar materials and other industrial goods.

Ferroglobe also operates quartz resources and produces related raw materials used in its alloy manufacturing processes. Its products support several industries, including automotive, construction, energy, chemicals, electronics and renewable energy.

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