Point72 Asset Management L.P. Cuts Stock Holdings in Ferroglobe PLC (NASDAQ:GSM)

Point72 Asset Management L.P. reduced its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 38.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,200 shares of the basic materials company’s stock after selling 19,500 shares during the quarter. Point72 Asset Management L.P.’s holdings in Ferroglobe were worth $167,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GSM. Covestor Ltd increased its stake in Ferroglobe by 266.1% in the 1st 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 period. Virtu Financial LLC bought a new stake in Ferroglobe in the 1st quarter worth $53,000. Legacy Capital Group California Inc. purchased a new position in shares of Ferroglobe in the second quarter valued at about $60,000. Hood River Capital Management LLC bought a new position in shares of Ferroglobe during the first quarter valued at about $73,000. Finally, Banco Santander S.A. purchased a new stake in shares of Ferroglobe during the second quarter worth about $80,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Performance

Shares of GSM stock opened at $4.57 on Friday. The firm has a market capitalization of $856.57 million, a price-to-earnings ratio of 13.44 and a beta of 1.83. The stock has a fifty day moving average of $4.49 and a 200 day moving average of $5.11. Ferroglobe PLC has a 52 week low of $4.07 and a 52 week high of $6.78. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02.

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

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were issued a dividend of $0.013 per share. The ex-dividend date was Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.14%. Ferroglobe’s dividend payout ratio (DPR) is 14.71%.

Analyst Upgrades and Downgrades

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

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.