Graham Capital Management L.P. Boosts Holdings in Ferroglobe PLC (NASDAQ:GSM)

Graham Capital Management L.P. raised its stake in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 1,185.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 912,398 shares of the basic materials company's stock after acquiring an additional 841,427 shares during the period. Graham Capital Management L.P. owned approximately 0.49% of Ferroglobe worth $3,467,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Ferroglobe by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock worth $857,000 after buying an additional 2,760 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Ferroglobe by 48.9% in the 4th quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company's stock valued at $84,000 after acquiring an additional 7,271 shares during the last quarter. Qtron Investments LLC grew its position in Ferroglobe by 49.7% in the fourth quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company's stock worth $85,000 after acquiring an additional 7,396 shares in the last quarter. XTX Topco Ltd increased its stake in Ferroglobe by 23.0% during the fourth quarter. XTX Topco Ltd now owns 39,653 shares of the basic materials company's stock worth $151,000 after acquiring an additional 7,427 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Ferroglobe by 12.1% during the fourth quarter. Legal & General Group Plc now owns 86,965 shares of the basic materials company's stock valued at $331,000 after purchasing an additional 9,400 shares during the period. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Trading Up 1.7%

Shares of GSM stock traded up $0.07 on Friday, reaching $3.87. 397,179 shares of the company's stock were exchanged, compared to its average volume of 1,146,952. The company's fifty day simple moving average is $3.63 and its 200 day simple moving average is $3.88. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $6.19. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $721.31 million, a PE ratio of 193.25 and a beta of 1.69.

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

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, June 18th. Ferroglobe's dividend payout ratio (DPR) is presently -15.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GSM. Seaport Res Ptn downgraded Ferroglobe from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. StockNews.com downgraded shares of Ferroglobe from a "buy" rating to a "hold" rating in a research note on Friday, February 21st.

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.