Donald Smith & CO. Inc. Takes Position in Ferroglobe PLC $GSM

Donald Smith & CO. Inc. bought a new position in shares of Ferroglobe PLC (NASDAQ:GSM) in the second quarter, Holdings Channel reports. The institutional investor bought 8,126,773 shares of the basic materials company’s stock, valued at approximately $25,843,000.

Other hedge funds have also recently modified their holdings of the company. Hosking Partners LLP lifted its stake in Ferroglobe by 3.1% in the 4th quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock valued at $52,040,000 after buying an additional 341,194 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Ferroglobe by 87.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock worth $22,606,000 after buying an additional 2,277,344 shares in the last quarter. Old West Investment Management LLC raised its holdings in shares of Ferroglobe by 17.3% during the fourth quarter. Old West Investment Management LLC now owns 3,798,781 shares of the basic materials company’s stock valued at $17,626,000 after acquiring an additional 560,867 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Ferroglobe by 13.3% in the third quarter. Ameriprise Financial Inc. now owns 2,141,909 shares of the basic materials company’s stock valued at $9,746,000 after acquiring an additional 250,982 shares in the last quarter. Finally, Ardsley Advisory Partners LP purchased a new position in shares of Ferroglobe in the fourth quarter valued at approximately $9,837,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Stock Performance

NASDAQ:GSM opened at $4.08 on Friday. The firm has a market capitalization of $761.43 million, a price-to-earnings ratio of -18.55 and a beta of 1.02. Ferroglobe PLC has a 1-year low of $3.08 and a 1-year high of $5.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74. The company’s 50-day moving average is $3.64 and its two-hundred day moving average is $4.18.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.5%. Ferroglobe’s dividend payout ratio is currently -27.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GSM. Wall Street Zen lowered Ferroglobe from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings downgraded Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.

Insiders Place Their Bets

In other Ferroglobe news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of Ferroglobe stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the sale, the insider directly owned 31,693 shares in the company, valued at $136,279.90. This trade represents a 50.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.07% of the stock is currently owned by company insiders.

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.