Ferroglobe PLC $GSM Stock Position Trimmed by Old West Investment Management LLC

Old West Investment Management LLC decreased its position in Ferroglobe PLC (NASDAQ:GSM) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,091,519 shares of the basic materials company’s stock after selling 344,413 shares during the quarter. Ferroglobe accounts for about 3.7% of Old West Investment Management LLC’s investment portfolio, making the stock its 10th largest holding. Old West Investment Management LLC’s holdings in Ferroglobe were worth $11,346,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in Ferroglobe during the 2nd quarter valued at $105,000. Geode Capital Management LLC lifted its holdings in Ferroglobe by 1,068.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock worth $5,719,000 after buying an additional 1,424,998 shares in the last quarter. ProShare Advisors LLC purchased a new position in Ferroglobe in the 2nd quarter valued at about $90,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ferroglobe during the second quarter valued at about $174,000. Finally, First Eagle Investment Management LLC increased its position in shares of Ferroglobe by 1.2% during the second quarter. First Eagle Investment Management LLC now owns 2,065,772 shares of the basic materials company’s stock worth $7,581,000 after acquiring an additional 25,000 shares during the last quarter. 89.64% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Price Performance

Shares of GSM opened at $3.82 on Friday. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $5.74. The company has a current ratio of 1.56, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. The firm has a market cap of $712.91 million, a price-to-earnings ratio of -6.70 and a beta of 1.83. The stock has a 50 day moving average of $4.59 and a 200-day moving average of $4.23.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $311.70 million for the quarter, compared to the consensus estimate of $393.80 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. As a group, analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 22nd will be given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is presently -6.76%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GSM. Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research cut Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. Finally, B. Riley cut their price target on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $6.00.

Ferroglobe Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.