Royce & Associates LP Has $10.79 Million Stock Position in Ferroglobe PLC (NASDAQ:GSM)

Key Points

• Royce & Associates LP reduced its stake in Ferroglobe PLC by 14.1%, now holding approximately 2.9 million shares worth about $10.8 million.
• Ferroglobe reported a quarterly net loss of ($0.20) EPS, missing analyst expectations, with revenue of only $307.18 million against an anticipated $336 million.
• The company declared a quarterly dividend of $0.014 per share, with an annualized yield of 1.24%, despite a negative payout ratio of -18.18%.

Royce & Associates LP cut its stake in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 14.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,909,008 shares of the basic materials company's stock after selling 478,950 shares during the period. Royce & Associates LP owned approximately 1.56% of Ferroglobe worth $10,792,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cooper Creek Partners Management LLC grew its stake in shares of Ferroglobe by 2.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company's stock worth $56,964,000 after purchasing an additional 291,201 shares during the period. Wolf Hill Capital Management LP lifted its holdings in Ferroglobe by 11.0% during the fourth quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company's stock worth $27,499,000 after acquiring an additional 714,726 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in Ferroglobe by 852.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company's stock worth $22,614,000 after acquiring an additional 5,326,051 shares in the last quarter. CenterBook Partners LP bought a new position in Ferroglobe during the fourth quarter worth about $8,363,000. Finally, Lloyd Harbor Capital Management LLC bought a new position in Ferroglobe during the fourth quarter worth about $5,605,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Ferroglobe from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

Ferroglobe Stock Down 1.3%

Shares of Ferroglobe stock traded down $0.06 during trading on Friday, reaching $4.51. The stock had a trading volume of 989,709 shares, compared to its average volume of 2,495,733. The company has a market capitalization of $841.70 million, a price-to-earnings ratio of -13.67 and a beta of 1.57. The stock has a fifty day moving average price of $4.05 and a two-hundred day moving average price of $3.84. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $5.65. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The firm had revenue of $307.18 million during the quarter, compared to the consensus estimate of $336.00 million. Ferroglobe had a negative net margin of 3.80% and a positive return on equity of 1.93%. Sell-side analysts predict that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th were issued a $0.014 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.24%. Ferroglobe's dividend payout ratio (DPR) is -18.18%.

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.