Ferroglobe PLC (NASDAQ:GSM) Shares Purchased by Old West Investment Management LLC

Old West Investment Management LLC raised its position in Ferroglobe PLC (NASDAQ:GSM) by 880.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,127,477 shares of the basic materials company’s stock after purchasing an additional 1,012,477 shares during the quarter. Ferroglobe comprises 2.7% of Old West Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. Old West Investment Management LLC owned 0.60% of Ferroglobe worth $6,043,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GSM. Jump Financial LLC acquired a new position in shares of Ferroglobe in the 4th quarter valued at $575,000. Principal Financial Group Inc. acquired a new position in Ferroglobe in the fourth quarter valued at about $366,000. Aigen Investment Management LP purchased a new position in Ferroglobe during the fourth quarter worth about $109,000. Chesapeake Capital Corp IL acquired a new stake in shares of Ferroglobe during the fourth quarter valued at about $229,000. Finally, 1492 Capital Management LLC raised its stake in shares of Ferroglobe by 4.9% in the 4th quarter. 1492 Capital Management LLC now owns 247,510 shares of the basic materials company’s stock valued at $1,611,000 after acquiring an additional 11,651 shares during the period. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th.

Ferroglobe Trading Down 0.7 %

Shares of NASDAQ GSM opened at $4.15 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $777.85 million, a PE ratio of 12.21 and a beta of 1.83. Ferroglobe PLC has a twelve month low of $4.07 and a twelve month high of $6.78. The stock has a fifty day simple moving average of $4.86 and a 200-day simple moving average of $5.12.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The company had revenue of $451.05 million during the quarter, compared to the consensus estimate of $425.55 million. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. During the same period in the previous year, the company posted $0.30 EPS. On average, equities analysts forecast that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.013 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.25%. Ferroglobe’s dividend payout ratio (DPR) is presently 14.71%.

Ferroglobe 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.