Ferroglobe PLC (NASDAQ:GSM) Shares Purchased by Ballast Asset Management LP

Ballast Asset Management LP increased its holdings in Ferroglobe PLC (NASDAQ:GSM) by 25.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 739,945 shares of the basic materials company’s stock after buying an additional 150,892 shares during the quarter. Ballast Asset Management LP’s holdings in Ferroglobe were worth $2,812,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Barclays PLC purchased a new position in Ferroglobe during the third quarter valued at $44,000. Heck Capital Advisors LLC purchased a new position in Ferroglobe in the 4th quarter valued at about $37,000. Raymond James Financial Inc. acquired a new stake in Ferroglobe in the 4th quarter worth about $42,000. LPL Financial LLC purchased a new stake in Ferroglobe during the 4th quarter worth approximately $42,000. Finally, Quantbot Technologies LP acquired a new position in shares of Ferroglobe during the fourth quarter valued at approximately $77,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Up 1.9 %

Shares of NASDAQ GSM opened at $3.71 on Tuesday. The stock has a market cap of $697.05 million, a PE ratio of 185.50 and a beta of 1.89. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a 12-month low of $3.23 and a 12-month high of $6.19. The company has a 50-day moving average of $3.83 and a 200 day moving average of $4.10.

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

Ferroglobe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were issued a $0.014 dividend. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.51%. The ex-dividend date was Thursday, March 20th. Ferroglobe’s dividend payout ratio is presently 250.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GSM. Seaport Res Ptn lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. StockNews.com cut shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

About Ferroglobe

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.