Hosking Partners LLP Has $52.04 Million Position in Ferroglobe PLC $GSM

Key Points

• Hosking Partners LLP increased its Ferroglobe stake by 3.1% in the fourth quarter, ending with 11.2 million shares worth about $52.04 million. The position represents roughly 6.01% of Ferroglobe and is Hosking’s 18th-largest holding.
• Two Ferroglobe insiders bought shares on March 23: Director De Fuentes Silvia Villar-Mir and Chairman Javier Lopez Madrid each purchased 26,000 shares at $3.86 apiece. Insider ownership now stands at 13.07%.
• Ferroglobe reported a quarterly loss of $0.07 EPS on revenue of $347.75 million, and analysts currently rate the stock a Hold with an average price target of $6.00. The company also declared a quarterly dividend of $0.015 per share, yielding about 1.5%.

Hosking Partners LLP boosted its position in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,215,616 shares of the basic materials company's stock after purchasing an additional 341,194 shares during the period. Ferroglobe accounts for about 1.8% of Hosking Partners LLP's portfolio, making the stock its 18th biggest holding. Hosking Partners LLP owned about 6.01% of Ferroglobe worth $52,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Ferroglobe by 1,068.3% during the second quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company's stock worth $5,719,000 after acquiring an additional 1,424,998 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Ferroglobe during the third quarter worth about $5,872,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Ferroglobe during the third quarter worth about $3,231,000. Millennium Management LLC raised its position in shares of Ferroglobe by 168.8% during the first quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company's stock worth $4,121,000 after acquiring an additional 697,476 shares during the last quarter. Finally, Moore Capital Management LP bought a new position in shares of Ferroglobe during the third quarter worth about $1,871,000. Institutional investors and hedge funds own 89.64% of the company's stock.

Insider Buying and Selling at Ferroglobe

In other Ferroglobe news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the purchase, the director owned 121,226 shares of the company's stock, valued at approximately $467,932.36. This represents a 27.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Madrid Javier Lopez acquired 26,000 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average cost of $3.86 per share, with a total value of $100,360.00. Following the purchase, the chairman directly owned 147,200 shares of the company's stock, valued at $568,192. This trade represents a 21.45% increase in their position. The SEC filing for this purchase provides additional information. 13.07% of the stock is currently owned by insiders.

Ferroglobe Stock Performance

Shares of Ferroglobe stock opened at $4.07 on Monday. The business's fifty day simple moving average is $4.46 and its 200 day simple moving average is $4.62. The firm has a market capitalization of $759.58 million, a P/E ratio of -6.78 and a beta of 1.03. Ferroglobe PLC has a 12 month low of $3.50 and a 12 month high of $5.74. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) EPS for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%.The business had revenue of $347.75 million for the quarter. As a group, analysts anticipate that Ferroglobe PLC will post -0.04 EPS for the current year.

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 22nd will be given a $0.015 dividend. The ex-dividend date is Monday, June 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.5%. Ferroglobe's payout ratio is -10.00%.

Analyst Ratings Changes

GSM has been the subject of several recent analyst reports. Zacks Research raised Ferroglobe from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. Wall Street Zen raised Ferroglobe from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ferroglobe in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.00.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company's core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe's product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.

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