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Hosking Partners LLP Has $39.45 Million Stake in Ferroglobe PLC (NASDAQ:GSM)

Ferroglobe logo with Basic Materials background

Key Points

  • Hosking Partners LLP increased its stake in Ferroglobe PLC by 18.1% during the first quarter, owning over 10.6 million shares, which represents about 1.7% of its portfolio.
  • Ferroglobe's recent quarterly earnings missed analysts' estimates, reporting a loss of ($0.08) per share against expectations of ($0.02), with revenue totaling $386.86 million.
  • The company declared a quarterly dividend of $0.014 per share, with a payment date set for September 29, reflecting an annualized dividend yield of 1.4%.
  • Looking to Export and Analyze Ferroglobe Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Hosking Partners LLP boosted its holdings in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,633,729 shares of the basic materials company's stock after buying an additional 1,629,431 shares during the period. Ferroglobe makes up about 1.7% of Hosking Partners LLP's investment portfolio, making the stock its 18th largest position. Hosking Partners LLP owned about 5.70% of Ferroglobe worth $39,451,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC increased its position in shares of Ferroglobe by 2.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company's stock valued at $56,964,000 after purchasing an additional 291,201 shares during the period. Wolf Hill Capital Management LP increased its position in shares of Ferroglobe by 11.0% during the fourth quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company's stock valued at $27,499,000 after purchasing an additional 714,726 shares during the period. CenterBook Partners LP increased its position in shares of Ferroglobe by 10.2% during the first quarter. CenterBook Partners LP now owns 2,425,772 shares of the basic materials company's stock valued at $9,000,000 after purchasing an additional 224,864 shares during the period. Lloyd Harbor Capital Management LLC bought a new stake in shares of Ferroglobe during the fourth quarter valued at approximately $5,605,000. Finally, Deprince Race & Zollo Inc. increased its position in shares of Ferroglobe by 117.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,235,155 shares of the basic materials company's stock valued at $4,694,000 after purchasing an additional 666,041 shares during the period. 89.64% of the stock is owned by institutional investors.

Ferroglobe Price Performance

NASDAQ:GSM traded down $0.14 during trading hours on Friday, reaching $4.05. The company had a trading volume of 1,503,299 shares, compared to its average volume of 1,762,603. The stock has a 50-day moving average of $4.13 and a two-hundred day moving average of $3.85. Ferroglobe PLC has a one year low of $2.97 and a one year high of $5.12. The firm has a market capitalization of $755.85 million, a PE ratio of -7.11 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced 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). Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. The company had revenue of $386.86 million during the quarter, compared to the consensus estimate of $398.00 million. Analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 22nd will be paid a $0.014 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.4%. Ferroglobe's payout ratio is currently -10.53%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Ferroglobe from a "hold" rating to a "sell" rating in a research report on Saturday.

Read Our Latest Analysis on Ferroglobe

Ferroglobe Profile

(Free Report)

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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Institutional Ownership by Quarter for Ferroglobe (NASDAQ:GSM)

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