State of New Jersey Common Pension Fund D Takes $96,000 Position in Ferroglobe PLC (NASDAQ:GSM)

State of New Jersey Common Pension Fund D bought a new stake in shares of Ferroglobe PLC (NASDAQ:GSM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,197 shares of the basic materials company’s stock, valued at approximately $96,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new position in Ferroglobe in the fourth quarter worth about $37,000. Barclays PLC purchased a new stake in shares of Ferroglobe in the third quarter worth about $44,000. Orion Portfolio Solutions LLC bought a new stake in shares of Ferroglobe in the 3rd quarter worth about $99,000. HighTower Advisors LLC boosted its stake in Ferroglobe by 78.1% during the third quarter. HighTower Advisors LLC now owns 28,103 shares of the basic materials company’s stock worth $131,000 after buying an additional 12,326 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Ferroglobe in the third quarter worth approximately $150,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Price Performance

NASDAQ:GSM opened at $3.59 on Wednesday. The stock has a 50 day moving average price of $3.91 and a 200 day moving average price of $4.21. Ferroglobe PLC has a one year low of $3.45 and a one year high of $6.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The stock has a market cap of $674.51 million, a PE ratio of 179.50 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Equities research analysts expect that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be given a dividend of $0.014 per share. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. This represents a $0.06 annualized dividend and a yield of 1.56%. Ferroglobe’s payout ratio is 250.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GSM. Seaport Res Ptn cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday. StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st.

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.