Old West Investment Management LLC Sells 743,194 Shares of Ferroglobe PLC (NASDAQ:GSM)

Old West Investment Management LLC trimmed its position in Ferroglobe PLC (NASDAQ:GSM) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,165,307 shares of the basic materials company’s stock after selling 743,194 shares during the quarter. Ferroglobe accounts for 3.3% of Old West Investment Management LLC’s holdings, making the stock its 13th biggest holding. Old West Investment Management LLC owned 1.15% of Ferroglobe worth $8,228,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its position in Ferroglobe by 852.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company’s stock worth $22,614,000 after buying an additional 5,326,051 shares in the last quarter. Royce & Associates LP lifted its position in shares of Ferroglobe by 24.2% during the 4th quarter. Royce & Associates LP now owns 3,387,958 shares of the basic materials company’s stock valued at $12,874,000 after acquiring an additional 660,980 shares during the period. River Global Investors LLP acquired a new stake in shares of Ferroglobe during the 4th quarter worth $2,408,000. Point72 Asset Management L.P. increased its position in shares of Ferroglobe by 1,180.4% in the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 368,300 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in Ferroglobe by 10.8% in the fourth quarter. First Eagle Investment Management LLC now owns 2,030,772 shares of the basic materials company’s stock valued at $7,717,000 after purchasing an additional 197,317 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Performance

Ferroglobe stock opened at $3.35 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $629.41 million, a PE ratio of 167.50 and a beta of 1.89. Ferroglobe PLC has a 12-month low of $3.19 and a 12-month high of $6.19. The business’s 50-day moving average price is $3.80 and its two-hundred day moving average price is $4.08.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $367.51 million for the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. As a group, analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Thursday, March 20th. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.67%. Ferroglobe’s dividend payout ratio is 250.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Seaport Res Ptn cut shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.

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.