Ferroglobe PLC (NASDAQ:GSM) Holdings Lifted by Hosking Partners LLP

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%.

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

Several other large investors also recently bought and sold shares of GSM. Cooper Creek Partners Management LLC lifted its stake in 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 worth $56,964,000 after purchasing an additional 291,201 shares in the last quarter. Wolf Hill Capital Management LP grew its holdings 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 worth $27,499,000 after purchasing an additional 714,726 shares during the last quarter. CenterBook Partners LP grew its holdings 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 worth $9,000,000 after purchasing an additional 224,864 shares during the last quarter. Lloyd Harbor Capital Management LLC purchased a new position in shares of Ferroglobe during the fourth quarter worth about $5,605,000. Finally, Deprince Race & Zollo Inc. boosted its stake 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 worth $4,694,000 after buying an additional 666,041 shares during the period. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Price Performance

Shares of Ferroglobe stock traded up $0.08 during trading on Wednesday, hitting $4.21. 758,143 shares of the company were exchanged, compared to its average volume of 1,276,899. 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 PLC has a fifty-two week low of $2.97 and a fifty-two week high of $5.12. The stock has a market capitalization of $784.78 million, a price-to-earnings ratio of -7.39 and a beta of 1.62. The firm has a 50 day moving average price of $4.15 and a 200 day moving average price of $3.86.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued 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 company had revenue of $386.86 million for the quarter, compared to analyst estimates of $398.00 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. On average, equities analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

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

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Ferroglobe from a "hold" rating to a "sell" rating in a research note on Saturday.

About Ferroglobe

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.