Thomist Capital Management LP Sells 836,975 Shares of Ferroglobe PLC (NASDAQ:GSM)

Thomist Capital Management LP reduced its stake in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 25.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,482,895 shares of the basic materials company's stock after selling 836,975 shares during the period. Ferroglobe accounts for 2.3% of Thomist Capital Management LP's portfolio, making the stock its 14th biggest holding. Thomist Capital Management LP owned 1.32% of Ferroglobe worth $9,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Heck Capital Advisors LLC purchased a new stake in Ferroglobe in the 4th quarter worth approximately $37,000. Raymond James Financial Inc. bought a new position in shares of Ferroglobe in the fourth quarter worth approximately $42,000. LPL Financial LLC purchased a new stake in shares of Ferroglobe in the fourth quarter worth $42,000. Barclays PLC bought a new stake in shares of Ferroglobe during the 3rd quarter valued at $44,000. Finally, RPO LLC purchased a new position in shares of Ferroglobe during the 4th quarter valued at $53,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Price Performance

Shares of GSM stock traded up $0.02 during mid-day trading on Friday, hitting $3.78. The company had a trading volume of 319,996 shares, compared to its average volume of 1,137,163. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. The stock's 50 day moving average price is $3.61 and its 200-day moving average price is $3.87. Ferroglobe PLC has a 52-week low of $2.97 and a 52-week high of $6.12. The company has a market capitalization of $704.51 million, a P/E ratio of 188.75 and a beta of 1.69.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The company had revenue of $307.18 million during the quarter, compared to analysts' expectations of $336.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Equities research analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Wednesday, June 18th. Ferroglobe's payout ratio is presently -15.15%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GSM shares. Seaport Res Ptn cut Ferroglobe from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Wall Street Zen cut Ferroglobe from a "buy" rating to a "hold" rating in a research report on Friday, February 21st.

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.