West Tower Group LLC Invests $581,000 in Ferroglobe PLC $GSM

West Tower Group LLC purchased a new position in shares of Ferroglobe PLC (NASDAQ:GSM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 125,285 shares of the basic materials company’s stock, valued at approximately $581,000. Ferroglobe accounts for about 1.3% of West Tower Group LLC’s investment portfolio, making the stock its 19th biggest holding. West Tower Group LLC owned 0.07% of Ferroglobe at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GSM. Millennium Management LLC raised its position in shares of Ferroglobe by 168.8% during the first quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock worth $4,121,000 after purchasing an additional 697,476 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 81,611 shares during the period. Geode Capital Management LLC raised its position in shares of Ferroglobe by 1,068.3% during the second quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock worth $5,719,000 after purchasing an additional 1,424,998 shares during the period. Legal & General Group Plc raised its position in shares of Ferroglobe by 48.6% during the second quarter. Legal & General Group Plc now owns 129,244 shares of the basic materials company’s stock worth $474,000 after purchasing an additional 42,279 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Ferroglobe by 4,411.5% during the second quarter. Rhumbline Advisers now owns 178,611 shares of the basic materials company’s stock worth $655,000 after purchasing an additional 174,652 shares during the period. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Stock Up 0.2%

NASDAQ:GSM opened at $4.01 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. The company has a market cap of $748.37 million, a PE ratio of -6.68 and a beta of 1.03. Ferroglobe PLC has a 52-week low of $3.51 and a 52-week high of $5.74. The stock has a 50-day simple moving average of $4.39 and a 200 day simple moving average of $4.60.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $347.75 million for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. On average, sell-side analysts expect that Ferroglobe PLC will post -0.09 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 22nd will be issued a dividend of $0.015 per share. The ex-dividend date is Monday, June 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.5%. Ferroglobe’s dividend payout ratio (DPR) is presently -10.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on GSM. Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Insider Transactions at Ferroglobe

In other news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the acquisition, the director owned 121,226 shares in the company, valued at $467,932.36. This represents a 27.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Madrid Javier Lopez acquired 26,000 shares of the firm’s 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 owned 147,200 shares of the company’s stock, valued at $568,192. This represents a 21.45% increase in their position. The disclosure for this purchase is available in the SEC filing. 13.07% of the stock is currently owned by company insiders.

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.