Ferroglobe PLC $GSM Shares Bought by CenterBook Partners LP

CenterBook Partners LP boosted its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 59.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,474,228 shares of the basic materials company’s stock after acquiring an additional 547,847 shares during the quarter. CenterBook Partners LP owned about 0.79% of Ferroglobe worth $6,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new stake in Ferroglobe during the 2nd quarter worth approximately $27,000. BNP Paribas Financial Markets lifted its holdings in shares of 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 valued at $37,000 after buying an additional 10,173 shares during the period. Spire Wealth Management lifted its holdings in shares of Ferroglobe by 49.0% in 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 period. Truist Financial Corp acquired a new stake in shares of Ferroglobe in the 3rd quarter valued at approximately $46,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Ferroglobe in the 4th quarter valued at approximately $46,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ferroglobe

In other news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $3.86 per share, with a total value of $100,360.00. Following the purchase, the director directly owned 121,226 shares of the company’s stock, valued at approximately $467,932.36. This trade represents a 27.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Madrid Javier Lopez acquired 26,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $3.86 per share, with a total value of $100,360.00. Following the completion of the purchase, the chairman directly owned 147,200 shares in the company, valued at $568,192. This represents a 21.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Price Performance

GSM opened at $3.86 on Monday. 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 business has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $4.57. The stock has a market capitalization of $720.39 million, a P/E ratio of -6.43 and a beta of 1.00. Ferroglobe PLC has a 12 month low of $3.51 and a 12 month high of $5.74.

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

Ferroglobe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 22nd will be paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, June 22nd. Ferroglobe’s dividend payout ratio (DPR) is presently -10.00%.

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.