Ferroglobe PLC (NASDAQ:GSM) is Thomist Capital Management LP’s 4th Largest Position

Thomist Capital Management LP raised its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 159.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,133,022 shares of the basic materials company’s stock after purchasing an additional 1,924,879 shares during the period. Ferroglobe makes up about 6.7% of Thomist Capital Management LP’s investment portfolio, making the stock its 4th largest holding. Thomist Capital Management LP owned 1.67% of Ferroglobe worth $18,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GSM. Covestor Ltd boosted its holdings in Ferroglobe by 266.1% in the first quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 3,864 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ferroglobe in the 1st quarter worth $53,000. Legacy Capital Group California Inc. bought a new stake in shares of Ferroglobe in the second quarter worth $60,000. Hood River Capital Management LLC purchased a new stake in Ferroglobe during the first quarter valued at $73,000. Finally, Banco Santander S.A. bought a new position in Ferroglobe in the second quarter valued at about $80,000. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Up 0.5 %

GSM opened at $4.20 on Thursday. The firm’s 50 day simple moving average is $4.80 and its two-hundred day simple moving average is $5.11. The company has a market capitalization of $787.22 million, a PE ratio of 12.35 and a beta of 1.83. Ferroglobe PLC has a 1-year low of $4.07 and a 1-year high of $6.78. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The company had revenue of $451.05 million for the quarter, compared to the consensus estimate of $425.55 million. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, equities analysts forecast that Ferroglobe PLC will post 0.28 EPS for the current year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be issued a $0.013 dividend. This represents a $0.05 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, September 20th. Ferroglobe’s dividend payout ratio is 14.71%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th.

Ferroglobe Company 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.