Russell Investments Group Ltd. Has $8.14 Million Stock Position in Ferroglobe PLC $GSM

Key Points

• Russell Investments Group Ltd. increased its holdings in Ferroglobe PLC by 83.8%, owning over 2.19 million shares valued at approximately $8.14 million as of their latest SEC filing.
• Analysts downgraded Ferroglobe's rating from "hold" to "sell", with the stock currently averaging a hold rating among equity research analysts.
• Ferroglobe announced a quarterly dividend of $0.014 per share, set to be paid on September 29th, representing an annual yield of 1.3%.

Russell Investments Group Ltd. grew its holdings in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 83.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,192,856 shares of the basic materials company's stock after buying an additional 999,584 shares during the period. Russell Investments Group Ltd. owned 1.18% of Ferroglobe worth $8,135,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC bought a new position in shares of Ferroglobe in the fourth quarter valued at about $37,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Ferroglobe during the 1st quarter worth about $37,000. PNC Financial Services Group Inc. acquired a new position in Ferroglobe in the 1st quarter valued at about $38,000. Raymond James Financial Inc. acquired a new position in Ferroglobe in the 4th quarter valued at about $42,000. Finally, LPL Financial LLC bought a new position in Ferroglobe in the 4th quarter valued at about $42,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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, Based on data from MarketBeat, Ferroglobe currently has an average rating of "Hold".

Ferroglobe Price Performance

Shares of NASDAQ GSM traded up $0.19 during mid-day trading on Friday, reaching $4.37. The company had a trading volume of 1,073,379 shares, compared to its average volume of 1,446,903. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 1.56. Ferroglobe PLC has a one year low of $2.97 and a one year high of $5.12. The firm has a market cap of $815.57 million, a price-to-earnings ratio of -7.67 and a beta of 1.62. The business's 50-day simple moving average is $4.18 and its 200 day simple moving average is $3.87.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share 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 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%. On average, research analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be given a dividend of $0.014 per share. The ex-dividend date is Monday, September 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.3%. Ferroglobe's dividend payout ratio (DPR) 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.