Envestnet Asset Management Inc. Purchases 121,176 Shares of Ferroglobe PLC (NASDAQ:GSM)

Key Points

• Envestnet Asset Management Inc. significantly increased its stake in Ferroglobe PLC by 72.3%, owning 288,746 shares valued at approximately $1.07 million.
• Ferroglobe recently reported a quarterly earnings miss, with a loss of ($0.20) per share against a consensus estimate of ($0.12), and revenue of $307.18 million below expectations.
• The company announced a quarterly dividend of $0.014 per share, resulting in a 1.4% dividend yield, despite a negative payout ratio of -18.18%.

Envestnet Asset Management Inc. raised its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 72.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 288,746 shares of the basic materials company's stock after purchasing an additional 121,176 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of Ferroglobe worth $1,071,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GSM. Heck Capital Advisors LLC purchased a new position in shares of Ferroglobe in the fourth quarter valued at approximately $37,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Ferroglobe in the first quarter valued at approximately $37,000. Raymond James Financial Inc. purchased a new position in shares of Ferroglobe in the fourth quarter valued at approximately $42,000. LPL Financial LLC purchased a new position in shares of Ferroglobe in the fourth quarter valued at approximately $42,000. Finally, PFG Investments LLC purchased a new position in shares of Ferroglobe in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Ferroglobe from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

Ferroglobe Trading Up 4.4%

Ferroglobe stock traded up $0.17 during mid-day trading on Tuesday, hitting $4.04. The company's stock had a trading volume of 2,168,311 shares, compared to its average volume of 1,250,067. The firm has a market capitalization of $753.97 million, a PE ratio of -12.24 and a beta of 1.62. Ferroglobe PLC has a 1 year low of $2.97 and a 1 year high of $5.21. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04. The stock's fifty day moving average is $4.10 and its two-hundred day moving average is $3.85.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Ferroglobe had a negative net margin of 3.80% and a positive return on equity of 1.93%. The company had revenue of $307.18 million during the quarter, compared to analysts' expectations of $336.00 million. On average, analysts anticipate that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Wednesday, June 18th were given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, June 18th. Ferroglobe's dividend payout ratio is presently -15.15%.

Ferroglobe Company Profile

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.