Schwartz Investment Counsel Inc. Buys New Stake in Ferroglobe PLC (NASDAQ:GSM)

Schwartz Investment Counsel Inc. bought a new position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 419,431 shares of the basic materials company's stock, valued at approximately $2,730,000. Schwartz Investment Counsel Inc. owned about 0.22% of Ferroglobe at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wolf Hill Capital Management LP boosted its holdings in shares of Ferroglobe by 12.8% in the 2nd quarter. Wolf Hill Capital Management LP now owns 10,576,354 shares of the basic materials company's stock valued at $50,449,000 after acquiring an additional 1,199,124 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Ferroglobe by 32.5% in the 4th quarter. Millennium Management LLC now owns 5,408,473 shares of the basic materials company's stock valued at $20,823,000 after purchasing an additional 1,327,742 shares during the period. Hosking Partners LLP lifted its stake in shares of Ferroglobe by 19.3% in the 3rd quarter. Hosking Partners LLP now owns 5,195,665 shares of the basic materials company's stock valued at $27,017,000 after purchasing an additional 840,629 shares during the period. Marshall Wace LLP lifted its stake in shares of Ferroglobe by 3.4% in the 4th quarter. Marshall Wace LLP now owns 4,610,322 shares of the basic materials company's stock valued at $17,750,000 after purchasing an additional 150,728 shares during the period. Finally, Boston Partners lifted its stake in shares of Ferroglobe by 5.8% in the 3rd quarter. Boston Partners now owns 4,252,458 shares of the basic materials company's stock valued at $22,113,000 after purchasing an additional 233,114 shares during the period. Hedge funds and other institutional investors own 89.64% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Ferroglobe from a "hold" rating to a "buy" rating in a research note on Tuesday, March 26th.

Ferroglobe Trading Up 1.0 %

GSM stock traded up $0.05 during mid-day trading on Tuesday, hitting $5.25. 1,004,862 shares of the company were exchanged, compared to its average volume of 1,514,102. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $984.01 million, a P/E ratio of 11.46 and a beta of 2.01. The business has a fifty day simple moving average of $4.84 and a 200-day simple moving average of $5.24. Ferroglobe PLC has a 12-month low of $3.95 and a 12-month high of $6.78.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $375.95 million during the quarter, compared to analyst estimates of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. On average, equities research analysts predict that Ferroglobe PLC will post 0.26 earnings per share for the current fiscal year.

Ferroglobe Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd were given a dividend of $0.013 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.05 annualized dividend and a dividend yield of 0.99%. Ferroglobe's dividend payout ratio is presently 10.87%.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.