Royce & Associates LP Sells 171,767 Shares of Ferroglobe PLC $GSM

Royce & Associates LP reduced its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 6.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,463,451 shares of the basic materials company’s stock after selling 171,767 shares during the quarter. Royce & Associates LP’s holdings in Ferroglobe were worth $11,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in Ferroglobe during the 2nd quarter valued at $27,000. Spire Wealth Management raised its holdings in Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after buying an additional 2,740 shares during the last quarter. Highland Capital Management LLC bought a new position in Ferroglobe in the 4th quarter worth $46,000. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 10,173 shares in the last quarter. Finally, Truist Financial Corp bought a new position in Ferroglobe in the 3rd quarter worth $46,000. 89.64% of the stock is currently owned by institutional investors.

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 investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Up 4.3%

Shares of NASDAQ GSM opened at $4.41 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. Ferroglobe PLC has a 12 month low of $3.51 and a 12 month high of $5.74. The firm has a market capitalization of $823.02 million, a PE ratio of -7.35 and a beta of 1.03. The firm has a fifty day simple moving average of $4.23 and a two-hundred day simple moving average of $4.55.

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

Ferroglobe Dividend Announcement

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

Insider Transactions at Ferroglobe

In other Ferroglobe news, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of Ferroglobe stock in a transaction dated Monday, March 23rd. The shares were purchased at an average cost of $3.86 per share, with a total value of $100,360.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Madrid Javier Lopez bought 26,000 shares of Ferroglobe stock in a transaction dated 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 transaction, the chairman directly owned 147,200 shares in the company, valued at approximately $568,192. This trade represents a 21.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 13.07% of the stock is owned by corporate insiders.

Ferroglobe Company 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.