Walleye Capital LLC Grows 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 stake in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 51.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,401 shares of the basic materials company's stock after buying 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 quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Maven Securities LTD boosted its position in Ferroglobe by 168.1% in the first quarter. Maven Securities LTD now owns 107,228 shares of the basic materials company's stock valued at $398,000 after buying an additional 67,228 shares in the last quarter. Boston Partners grew its stake in shares of Ferroglobe by 622.2% in the first quarter. Boston Partners now owns 1,548,152 shares of the basic materials company's stock worth $5,743,000 after purchasing an additional 1,333,772 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Ferroglobe by 83.8% in the first quarter. Russell Investments Group Ltd. now owns 2,192,856 shares of the basic materials company's stock worth $8,135,000 after purchasing an additional 999,584 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in Ferroglobe by 9.6% in the first quarter. Donald Smith & CO. Inc. now owns 6,522,510 shares of the basic materials company's stock valued at $24,199,000 after buying an additional 571,459 shares during the period. Finally, Virtu Financial LLC acquired a new position in Ferroglobe in the first quarter valued at $46,000. Institutional investors and hedge funds own 89.64% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of 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 an average rating of "Hold".

Ferroglobe Stock Up 1.2%

GSM traded up $0.05 during midday trading on Monday, hitting $4.18. The company had a trading volume of 895,078 shares, compared to its average volume of 1,341,524. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $5.12. 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 company has a market capitalization of $780.11 million, a price-to-earnings ratio of -7.33 and a beta of 1.69. The stock's 50 day moving average price is $4.23 and its 200 day moving average price is $3.88.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 return on equity of 2.85% and a negative net margin of 6.99%. On average, research analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

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 issued a dividend of $0.014 per share. The ex-dividend date is Monday, September 22nd. This represents a $0.06 annualized dividend and a yield of 1.3%. Ferroglobe's payout ratio is -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.