Walleye Capital LLC Increases Stake in Ferroglobe PLC $GSM

Key Points

• Walleye Capital LLC increased its holdings in Ferroglobe PLC by 51.2% in the first quarter, owning 792,401 shares valued at approximately $2.94 million.
• Multiple institutional investors have also raised their stakes, with Boston Partners reporting a significant increase of 622.2% in the same period.
• Ferroglobe's stock recently received a downgrade from Hold to Sell by Wall Street analysts, amid disappointing quarterly earnings results.

Walleye Capital LLC raised its position in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 51.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 792,401 shares of the basic materials company's stock after purchasing an additional 268,456 shares during the period. Walleye Capital LLC owned 0.42% of Ferroglobe worth $2,940,000 at the end of the most recent reporting period.

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

Ferroglobe Trading Down 1.2%

Shares of Ferroglobe stock traded down $0.05 during trading on Tuesday, reaching $4.13. 639,242 shares of the stock were exchanged, compared to its average volume of 1,255,451. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The firm has a market cap of $770.78 million, a price-to-earnings ratio of -7.25 and a beta of 1.69. Ferroglobe PLC has a 1 year low of $2.97 and a 1 year high of $5.12. The stock's fifty day moving average is $4.25 and its 200 day moving average is $3.88.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $386.86 million for the quarter, compared to the consensus estimate of $398.00 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. As a group, equities research analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be paid a $0.014 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.4%. Ferroglobe's dividend payout ratio (DPR) is presently -10.53%.

Analyst Upgrades and Downgrades

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

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.