New York State Common Retirement Fund Raises Holdings in Ferroglobe PLC (NASDAQ:GSM)

New York State Common Retirement Fund increased its holdings in Ferroglobe PLC (NASDAQ:GSM) by 48.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,143 shares of the basic materials company’s stock after acquiring an additional 7,271 shares during the period. New York State Common Retirement Fund’s holdings in Ferroglobe were worth $84,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D purchased a new position in shares of Ferroglobe during the fourth quarter worth $96,000. Heck Capital Advisors LLC acquired a new stake in Ferroglobe in the fourth quarter valued at $37,000. Barclays PLC acquired a new stake in Ferroglobe in the third quarter valued at $44,000. Old West Investment Management LLC grew its holdings in shares of Ferroglobe by 158.0% during the third quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after purchasing an additional 1,781,024 shares during the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Ferroglobe during the third quarter worth about $99,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GSM shares. StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seaport Res Ptn lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th.

Ferroglobe Stock Performance

NASDAQ GSM opened at $3.36 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a 52-week low of $3.23 and a 52-week high of $6.19. The business’s 50-day moving average price is $3.85 and its 200 day moving average price is $4.15. The firm has a market cap of $631.29 million, a P/E ratio of 168.00 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The firm had revenue of $367.51 million for the quarter, compared to analyst estimates of $393.00 million. On average, equities research analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is currently 250.00%.

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.