Ardsley Advisory Partners LP Makes New Investment in Ferroglobe PLC $GSM

Ardsley Advisory Partners LP bought a new position in Ferroglobe PLC (NASDAQ:GSM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,120,000 shares of the basic materials company’s stock, valued at approximately $9,837,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC boosted its holdings in Ferroglobe by 229.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 88,214 shares of the basic materials company’s stock worth $409,000 after acquiring an additional 61,405 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Ferroglobe by 11.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,707 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 7,399 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Ferroglobe by 2,207.3% in the fourth quarter. Osaic Holdings Inc. now owns 55,953 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 53,528 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Ferroglobe by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 143,039 shares of the basic materials company’s stock worth $664,000 after purchasing an additional 37,284 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new position in shares of Ferroglobe in the fourth quarter worth $550,000. 89.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ferroglobe presently has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Price Performance

GSM stock opened at $3.84 on Thursday. Ferroglobe PLC has a 1-year low of $3.51 and a 1-year high of $5.74. The business has a fifty day moving average price of $4.23 and a 200-day moving average price of $4.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.43 and a quick ratio of 0.80. The stock has a market capitalization of $716.66 million, a P/E ratio of -6.40 and a beta of 1.00.

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

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 22nd will be paid a $0.015 dividend. The ex-dividend date is Monday, June 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.6%. Ferroglobe’s payout ratio is currently -10.00%.

Insider Buying and Selling at Ferroglobe

In other news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of Ferroglobe stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the transaction, the director owned 121,226 shares in the company, valued at $467,932.36. The trade was a 27.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Madrid Javier Lopez acquired 26,000 shares of Ferroglobe 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 transaction, the chairman owned 147,200 shares of the company’s stock, valued at $568,192. The trade was a 21.45% increase in their position. The disclosure for this purchase is available in the SEC filing. 13.07% of the stock is owned by 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.