Walleye Capital LLC Lowers Stock Holdings in Ferroglobe PLC $GSM

Walleye Capital LLC reduced its position in Ferroglobe PLC (NASDAQ:GSM) by 22.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,185,259 shares of the basic materials company’s stock after selling 337,321 shares during the quarter. Walleye Capital LLC’s holdings in Ferroglobe were worth $4,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GSM. Hosking Partners LLP increased its stake in Ferroglobe by 3.1% during the 4th quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock worth $52,040,000 after buying an additional 341,194 shares during the period. Bastion Asset Management Inc. acquired a new stake in Ferroglobe during the 1st quarter worth approximately $4,155,000. CenterBook Partners LP boosted its position in Ferroglobe by 59.1% in the 4th quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company’s stock valued at $6,840,000 after buying an additional 547,847 shares during the period. West Tower Group LLC purchased a new position in Ferroglobe in the 4th quarter valued at approximately $581,000. Finally, Man Investment Partners US LP acquired a new position in shares of Ferroglobe in the fourth quarter worth $6,021,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Stock Performance

Shares of Ferroglobe stock opened at $3.42 on Thursday. The business has a 50-day simple moving average of $3.75 and a 200-day simple moving average of $4.34. 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 one year low of $3.10 and a one year high of $5.74. The company has a market cap of $638.27 million, a PE ratio of -5.70 and a beta of 1.02.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. The firm had revenue of $347.75 million during the quarter. On average, equities research analysts forecast that Ferroglobe PLC will post -0.14 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 22nd were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, June 22nd. Ferroglobe’s dividend payout ratio (DPR) is presently -10.00%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

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.