Cohen Capital Management Inc. Sells 15,681 Shares of Ferroglobe PLC (NASDAQ:GSM)

Cohen Capital Management Inc. trimmed its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,412 shares of the basic materials company’s stock after selling 15,681 shares during the quarter. Cohen Capital Management Inc.’s holdings in Ferroglobe were worth $184,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in Ferroglobe during the fourth quarter valued at approximately $37,000. Barclays PLC acquired a new position in shares of Ferroglobe during the third quarter worth $44,000. New York State Common Retirement Fund lifted its holdings in shares of Ferroglobe by 48.9% during the 4th quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 7,271 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Ferroglobe in the 4th quarter worth $96,000. Finally, Orion Portfolio Solutions LLC purchased a new position in Ferroglobe during the 3rd quarter worth $99,000. 89.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday.

Ferroglobe Stock Down 4.0 %

GSM stock opened at $3.49 on Friday. The stock has a market capitalization of $654.78 million, a PE ratio of 174.25 and a beta of 1.83. Ferroglobe PLC has a 52 week low of $3.45 and a 52 week high of $6.19. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $3.92 and a 200 day moving average of $4.22.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $367.51 million for the quarter, compared to analyst estimates of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. Sell-side analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be paid a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.61%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

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.