Cannell & Co. Lowers Position in Ferroglobe PLC (NASDAQ:GSM)

Cannell & Co. lowered its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,141,905 shares of the basic materials company's stock after selling 202,650 shares during the quarter. Cannell & Co. owned 2.21% of Ferroglobe worth $26,964,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GSM. General American Investors Co. Inc. acquired a new position in Ferroglobe during the 3rd quarter worth approximately $4,829,000. Hosking Partners LLP boosted its holdings 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 buying an additional 840,629 shares during the last quarter. Schwartz Investment Counsel Inc. acquired a new stake in shares of Ferroglobe in the 4th quarter valued at approximately $2,730,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Ferroglobe by 253.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 413,498 shares of the basic materials company's stock valued at $2,150,000 after buying an additional 296,662 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its holdings in shares of Ferroglobe by 124.8% in the 3rd quarter. B. Riley Financial Inc. now owns 449,667 shares of the basic materials company's stock valued at $2,338,000 after buying an additional 249,667 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

Ferroglobe Stock Down 0.8 %

Shares of NASDAQ GSM traded down $0.04 during trading hours on Wednesday, hitting $5.21. The company had a trading volume of 1,702,340 shares, compared to its average volume of 1,520,040. Ferroglobe PLC has a 1-year low of $3.95 and a 1-year high of $6.78. The firm's 50 day moving average is $4.86 and its 200-day moving average is $5.25. 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 stock has a market capitalization of $976.51 million, a P/E ratio of 11.33 and a beta of 2.01.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. The business had revenue of $375.95 million for the quarter, compared to analysts' expectations of $318.80 million. On average, analysts expect 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. Investors of record on Friday, March 22nd were paid a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 21st. Ferroglobe's dividend payout ratio (DPR) is presently 10.87%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ferroglobe from a "hold" rating to a "buy" rating in a report on Tuesday, March 26th.

Ferroglobe Company Profile

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.