OMERS ADMINISTRATION Corp Boosts Holdings in Ferroglobe PLC $GSM

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Ferroglobe PLC by 61.0%, acquiring 95,100 additional shares, bringing its total ownership to 250,900 shares valued at approximately $931,000.
• Multiple hedge funds, including Boston Partners and Old West Investment Management LLC, significantly raised their positions in Ferroglobe during the first quarter, indicating a trend of increasing institutional interest in the company.
• Ferroglobe recently reported Q2 earnings miss with an EPS of ($0.08) against an expected ($0.02), while also announcing a quarterly dividend of $0.014 per share scheduled for payment on September 29th.

OMERS ADMINISTRATION Corp increased its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 61.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,900 shares of the basic materials company's stock after purchasing an additional 95,100 shares during the quarter. OMERS ADMINISTRATION Corp owned 0.13% of Ferroglobe worth $931,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in Ferroglobe during the 4th quarter worth approximately $37,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Ferroglobe during the first quarter worth $37,000. PNC Financial Services Group Inc. acquired a new position in Ferroglobe during the first quarter valued at $38,000. Raymond James Financial Inc. purchased a new stake in Ferroglobe in the fourth quarter valued at $42,000. Finally, PFG Investments LLC acquired a new stake in Ferroglobe during the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Ferroglobe from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ferroglobe currently has an average rating of "Hold".

Ferroglobe Price Performance

Shares of GSM traded up $0.02 during mid-day trading on Wednesday, hitting $4.15. 636,586 shares of the company were exchanged, compared to its average volume of 1,255,451. The company has a 50 day moving average of $4.26 and a 200-day moving average of $3.89. Ferroglobe PLC has a 1-year low of $2.97 and a 1-year 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 stock has a market cap of $774.51 million, a price-to-earnings ratio of -7.28 and a beta of 1.69.

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

Ferroglobe Dividend Announcement

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

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.