Diametric Capital LP Sells 115,641 Shares of Ferroglobe PLC (NASDAQ:GSM)

Diametric Capital LP reduced its position in Ferroglobe PLC (NASDAQ:GSM) by 63.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,194 shares of the basic materials company’s stock after selling 115,641 shares during the period. Diametric Capital LP’s holdings in Ferroglobe were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in Ferroglobe during the 4th quarter valued at about $37,000. Raymond James Financial Inc. purchased a new stake in shares of Ferroglobe during the fourth quarter worth about $42,000. LPL Financial LLC purchased a new stake in shares of Ferroglobe during the fourth quarter worth about $42,000. Barclays PLC acquired a new position in shares of Ferroglobe during the third quarter valued at about $44,000. Finally, Quantbot Technologies LP purchased a new position in shares of Ferroglobe in the 4th quarter valued at approximately $77,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GSM shares. Seaport Res Ptn lowered shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.

Ferroglobe Trading Down 0.5 %

Ferroglobe stock opened at $3.69 on Wednesday. The stock has a 50-day moving average price of $3.83 and a 200 day moving average price of $4.09. The company has a market capitalization of $693.30 million, a price-to-earnings ratio of 184.50 and a beta of 1.89. Ferroglobe PLC has a 52 week low of $3.23 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.

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

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were paid a dividend of $0.014 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

Ferroglobe Profile

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.