Ferroglobe PLC $GSM Shares Acquired by Old West Investment Management LLC

Key Points

• Old West Investment Management LLC increased its stake in Ferroglobe PLC by 58.7%, now holding 3,435,932 shares worth approximately $12.75 million.
• Ferroglobe's recent earnings report showed an EPS of ($0.08), missing analysts' expectations, with revenues of $386.86 million compared to the anticipated $398 million.
• The company announced a quarterly dividend of $0.014 per share, which will be paid on September 29th, representing a 1.3% dividend yield.

Old West Investment Management LLC lifted its holdings in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,435,932 shares of the basic materials company's stock after purchasing an additional 1,270,625 shares during the quarter. Ferroglobe accounts for approximately 4.6% of Old West Investment Management LLC's holdings, making the stock its 4th largest position. Old West Investment Management LLC owned approximately 1.84% of Ferroglobe worth $12,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GSM. Hosking Partners LLP grew its stake in shares of Ferroglobe by 18.1% in the first quarter. Hosking Partners LLP now owns 10,633,729 shares of the basic materials company's stock worth $39,451,000 after purchasing an additional 1,629,431 shares in the last quarter. Lloyd Harbor Capital Management LLC acquired a new stake in shares of Ferroglobe in the fourth quarter valued at $5,605,000. Boston Partners lifted its holdings in shares of Ferroglobe by 622.2% in the first quarter. Boston Partners now owns 1,548,152 shares of the basic materials company's stock valued at $5,743,000 after buying an additional 1,333,772 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Ferroglobe by 83.8% in the first quarter. Russell Investments Group Ltd. now owns 2,192,856 shares of the basic materials company's stock valued at $8,135,000 after buying an additional 999,584 shares during the period. Finally, Graham Capital Management L.P. lifted its holdings in shares of Ferroglobe by 1,185.6% in the fourth quarter. Graham Capital Management L.P. now owns 912,398 shares of the basic materials company's stock valued at $3,467,000 after buying an additional 841,427 shares during the period. Institutional investors own 89.64% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Ferroglobe from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Ferroglobe presently has an average rating of "Hold".

Ferroglobe Trading Up 1.2%

Shares of NASDAQ:GSM traded up $0.05 during mid-day trading on Friday, hitting $4.18. The stock had a trading volume of 894,900 shares, compared to its average volume of 1,253,410. The company's 50 day moving average is $4.22 and its 200-day moving average is $3.88. Ferroglobe PLC has a 12-month low of $2.97 and a 12-month high of $5.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 1.56. The company has a market cap of $780.11 million, a PE ratio of -7.33 and a beta of 1.62.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its earnings results 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 firm had revenue of $386.86 million for the quarter, compared to analyst estimates of $398.00 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. On average, sell-side analysts predict that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Announces Dividend

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

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.