Hood River Capital Management LLC Increases Holdings in Ferroglobe PLC (NASDAQ:GSM)

Hood River Capital Management LLC lifted its position in Ferroglobe PLC (NASDAQ:GSM) by 41.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,816 shares of the basic materials company’s stock after purchasing an additional 6,091 shares during the quarter. Hood River Capital Management LLC’s holdings in Ferroglobe were worth $112,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GSM. Covestor Ltd raised its position in Ferroglobe by 266.1% during the first quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 3,864 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ferroglobe in the first quarter valued at approximately $53,000. Legacy Capital Group California Inc. acquired a new stake in Ferroglobe in the second quarter valued at approximately $60,000. Banco Santander S.A. acquired a new stake in Ferroglobe in the second quarter valued at approximately $80,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Ferroglobe by 40.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 4,480 shares during the period. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ferroglobe Stock Performance

Shares of NASDAQ:GSM opened at $4.24 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91. The business’s 50 day moving average price is $4.70 and its 200-day moving average price is $5.11. The firm has a market capitalization of $794.72 million, a PE ratio of 12.47 and a beta of 1.83. Ferroglobe PLC has a 1 year low of $4.07 and a 1 year high of $6.78.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $451.05 million for the quarter, compared to analyst estimates 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 company posted $0.30 earnings per share. As a group, equities research analysts expect that Ferroglobe PLC will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be given a dividend of $0.013 per share. The ex-dividend date is Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.23%. Ferroglobe’s payout ratio is 14.71%.

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.