OMERS ADMINISTRATION Corp Has $931,000 Stock Position 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 holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 61.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 250,900 shares of the basic materials company's stock after purchasing an additional 95,100 shares during the period. OMERS ADMINISTRATION Corp owned 0.13% of Ferroglobe worth $931,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GSM. Heck Capital Advisors LLC bought a new position in Ferroglobe during the fourth quarter worth about $37,000. Creative Financial Designs Inc. ADV bought a new position in Ferroglobe during the first quarter worth about $37,000. PNC Financial Services Group Inc. bought a new position in Ferroglobe during the first quarter worth about $38,000. PFG Investments LLC bought a new position in Ferroglobe during the first quarter worth about $42,000. Finally, Raymond James Financial Inc. bought a new position in Ferroglobe during the fourth quarter worth about $42,000. Institutional investors own 89.64% of the company's stock.

Analysts Set New Price Targets

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

Ferroglobe Stock Performance

Shares of NASDAQ:GSM traded up $0.10 during trading on Friday, reaching $4.28. 673,888 shares of the stock were exchanged, compared to its average volume of 942,260. Ferroglobe PLC has a 12 month low of $2.97 and a 12 month high of $5.12. The firm has a market cap of $798.78 million, a PE ratio of -7.51 and a beta of 1.69. The stock has a 50-day moving average price of $4.28 and a 200-day moving average price of $3.89. The company has a current ratio of 1.56, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The firm had revenue of $386.86 million for the quarter, compared to the consensus estimate of $398.00 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. Research 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. Shareholders 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 yield of 1.3%. Ferroglobe's payout ratio is currently -10.53%.

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.