Millennium Management LLC Has $1.57 Million Holdings in Ferroglobe PLC (NASDAQ:GSM)

Millennium Management LLC reduced its holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 54.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 413,283 shares of the basic materials company's stock after selling 485,422 shares during the period. Millennium Management LLC owned about 0.22% of Ferroglobe worth $1,570,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Ferroglobe by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock valued at $857,000 after buying an additional 2,760 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Ferroglobe by 48.9% during the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company's stock worth $84,000 after buying an additional 7,271 shares during the last quarter. Qtron Investments LLC lifted its holdings in Ferroglobe by 49.7% in the fourth quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company's stock valued at $85,000 after buying an additional 7,396 shares during the period. XTX Topco Ltd lifted its holdings in Ferroglobe by 23.0% in the fourth quarter. XTX Topco Ltd now owns 39,653 shares of the basic materials company's stock valued at $151,000 after buying an additional 7,427 shares during the period. Finally, Legal & General Group Plc boosted its stake in Ferroglobe by 12.1% in the fourth quarter. Legal & General Group Plc now owns 86,965 shares of the basic materials company's stock valued at $331,000 after acquiring an additional 9,400 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on GSM. Wall Street Zen upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a research report on Saturday, May 31st. Seaport Res Ptn lowered Ferroglobe from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th.

Ferroglobe Trading Up 3.6%

NASDAQ GSM traded up $0.15 during trading on Friday, reaching $4.18. 783,798 shares of the stock traded hands, compared to its average volume of 1,129,828. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a fifty-two week low of $2.97 and a fifty-two week high of $6.11. The stock's 50-day moving average price is $3.60 and its 200 day moving average price is $3.84. The firm has a market cap of $779.16 million, a price-to-earnings ratio of 208.75 and a beta of 1.58.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The company had revenue of $307.18 million during the quarter, compared to the consensus estimate of $336.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. Analysts predict that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, June 18th. Ferroglobe's payout ratio is presently -15.15%.

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.