Royce & Associates LP Cuts Holdings in Ferroglobe PLC $GSM

Royce & Associates LP lessened its stake in Ferroglobe PLC (NASDAQ:GSM) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,463,451 shares of the basic materials company’s stock after selling 171,767 shares during the period. Royce & Associates LP owned approximately 1.32% of Ferroglobe worth $11,430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System purchased a new position in Ferroglobe in the 2nd quarter worth approximately $27,000. BNP Paribas Financial Markets grew 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 worth $37,000 after buying an additional 10,173 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 2,740 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Ferroglobe in the 3rd quarter worth approximately $46,000. Finally, Highland Capital Management LLC bought a new stake in shares of Ferroglobe in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the acquisition, the director directly owned 121,226 shares of the company’s stock, valued at $467,932.36. This represents a 27.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Madrid Javier Lopez purchased 26,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the acquisition, the chairman directly owned 147,200 shares in the company, valued at $568,192. The trade was a 21.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 13.07% of the company’s stock.

Ferroglobe Trading Up 4.3%

Shares of GSM opened at $4.41 on Thursday. The firm has a market cap of $823.02 million, a price-to-earnings ratio of -7.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. Ferroglobe PLC has a fifty-two week low of $3.51 and a fifty-two week high of $5.74. The firm has a 50 day moving average price of $4.23 and a 200-day moving average price of $4.55.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The business had revenue of $347.75 million during the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. As a group, equities research analysts forecast that Ferroglobe PLC will post -0.09 earnings per share for the current year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 22nd will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, June 22nd. Ferroglobe’s payout ratio is presently -10.00%.

Analyst Ratings Changes

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

Ferroglobe 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.