Goldman Sachs Group Inc. Boosts Stake in Ferroglobe PLC $GSM

Key Points

• Goldman Sachs Group Inc. increased its holdings in Ferroglobe PLC by 32.6%, owning 331,778 shares valued at approximately $1.23 million as of the latest SEC filing.
• Ferroglobe reported a quarterly earnings miss, with a loss of $0.08 per share compared to the estimated loss of $0.02, alongside revenues of $386.86 million below analyst expectations.
• The company declared a quarterly dividend of $0.014 per share, with the ex-dividend date set for September 22nd, indicating an annualized yield of 1.3% despite a negative dividend payout ratio.

Goldman Sachs Group Inc. increased its stake in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 32.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 331,778 shares of the basic materials company's stock after purchasing an additional 81,611 shares during the period. Goldman Sachs Group Inc. owned approximately 0.18% of Ferroglobe worth $1,231,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. SummerHaven Investment Management LLC grew its position in Ferroglobe by 2.8% in the first quarter. SummerHaven Investment Management LLC now owns 136,756 shares of the basic materials company's stock valued at $507,000 after acquiring an additional 3,697 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Ferroglobe during the fourth quarter valued at about $37,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Ferroglobe during the first quarter valued at about $37,000. PNC Financial Services Group Inc. acquired a new stake in shares of Ferroglobe during the first quarter valued at about $38,000. Finally, PFG Investments LLC acquired a new stake in shares of Ferroglobe during the first quarter valued at about $42,000. Institutional investors own 89.64% of the company's stock.

Ferroglobe Stock Up 0.2%

Shares of GSM stock traded up $0.01 during mid-day trading on Monday, hitting $4.20. The company's stock had a trading volume of 778,835 shares, compared to its average volume of 807,751. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 1.56. Ferroglobe PLC has a 52-week low of $2.97 and a 52-week high of $5.12. The stock has a market cap of $783.85 million, a price-to-earnings ratio of -7.37 and a beta of 1.69. The business has a 50-day moving average price of $4.26 and a 200 day moving average price of $3.94.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%.The firm had revenue of $386.86 million during the quarter, compared to the consensus estimate of $398.00 million. Research analysts predict that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Ferroglobe from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Ferroglobe presently has a consensus rating of "Hold".

Ferroglobe 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.