CenterBook Partners LP Grows Stake in Ferroglobe PLC $GSM

CenterBook Partners LP boosted its position in Ferroglobe PLC (NASDAQ:GSM) by 59.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,474,228 shares of the basic materials company’s stock after buying an additional 547,847 shares during the period. CenterBook Partners LP’s holdings in Ferroglobe were worth $6,840,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System purchased a new position in Ferroglobe in the 2nd quarter valued at approximately $27,000. Spire Wealth Management increased its stake in Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 2,740 shares in the last quarter. Highland Capital Management LLC purchased a new position in Ferroglobe in the 4th quarter valued at approximately $46,000. BNP Paribas Financial Markets increased its stake in Ferroglobe by 1,017,300.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 10,173 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in Ferroglobe during the third quarter worth $46,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Performance

Ferroglobe stock opened at $3.86 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. The stock has a fifty day moving average of $4.26 and a two-hundred day moving average of $4.57. The company has a market capitalization of $720.39 million, a price-to-earnings ratio of -6.43 and a beta of 1.00. Ferroglobe PLC has a fifty-two week low of $3.51 and a fifty-two week high of $5.74.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The company had revenue of $347.75 million for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. On average, analysts anticipate that Ferroglobe PLC will post -0.09 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.06 annualized dividend and a yield of 1.6%. Ferroglobe’s dividend payout ratio (DPR) is presently -10.00%.

Insider Buying and Selling at Ferroglobe

In related news, Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the transaction, the director owned 121,226 shares of the company’s stock, valued at approximately $467,932.36. This represents a 27.30% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Madrid Javier Lopez purchased 26,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $3.86 per share, with a total value of $100,360.00. Following the transaction, the chairman directly owned 147,200 shares of the company’s stock, valued at $568,192. This represents a 21.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.07% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.