Donald Smith & CO. Inc. Purchases Shares of 8,126,773 Ferroglobe PLC $GSM

Donald Smith & CO. Inc. purchased a new position in shares of Ferroglobe PLC (NASDAQ:GSM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,126,773 shares of the basic materials company’s stock, valued at approximately $25,843,000. Donald Smith & CO. Inc. owned 4.35% of Ferroglobe as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Hosking Partners LLP lifted its holdings in shares of Ferroglobe by 3.1% in the 4th quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock valued at $52,040,000 after buying an additional 341,194 shares during the period. Goldman Sachs Group Inc. grew its holdings in Ferroglobe by 87.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock worth $22,606,000 after acquiring an additional 2,277,344 shares during the period. Old West Investment Management LLC grew its holdings in Ferroglobe by 17.3% during the fourth quarter. Old West Investment Management LLC now owns 3,798,781 shares of the basic materials company’s stock worth $17,626,000 after acquiring an additional 560,867 shares during the period. Ameriprise Financial Inc. raised its position in Ferroglobe by 13.3% during the third quarter. Ameriprise Financial Inc. now owns 2,141,909 shares of the basic materials company’s stock valued at $9,746,000 after acquiring an additional 250,982 shares in the last quarter. Finally, Ardsley Advisory Partners LP purchased a new position in Ferroglobe during the fourth quarter valued at approximately $9,837,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Insider Buying and Selling

In other news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.30, for a total value of $138,855.60. Following the completion of the sale, the insider directly owned 31,693 shares in the company, valued at $136,279.90. The trade was a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on GSM shares. Weiss Ratings lowered Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Price Performance

NASDAQ:GSM opened at $4.08 on Friday. Ferroglobe PLC has a 52 week low of $3.08 and a 52 week high of $5.74. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $761.43 million, a PE ratio of -18.55 and a beta of 1.02. The stock’s 50-day moving average price is $3.64 and its 200-day moving average price is $4.18.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.5%. Ferroglobe’s dividend payout ratio is currently -27.27%.

About Ferroglobe

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.