Charles Schwab Investment Management Inc. Cuts Stock Holdings in Ferroglobe PLC (NASDAQ:GSM)

Charles Schwab Investment Management Inc. lowered its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 51.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,098 shares of the basic materials company’s stock after selling 39,080 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ferroglobe were worth $141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Old West Investment Management LLC raised its stake in Ferroglobe by 158.0% in the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock valued at $13,495,000 after purchasing an additional 1,781,024 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Ferroglobe by 1,180.4% during the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 368,300 shares in the last quarter. Hosking Partners LLP grew its holdings in shares of Ferroglobe by 1.8% during the fourth quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after buying an additional 159,845 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Ferroglobe in the third quarter valued at about $150,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Ferroglobe in the fourth quarter worth about $96,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GSM. Seaport Res Ptn cut shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.

Ferroglobe Stock Down 0.5 %

Shares of GSM opened at $3.69 on Wednesday. The stock has a fifty day simple moving average of $3.83 and a two-hundred day simple moving average of $4.09. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $693.30 million, a PE ratio of 184.50 and a beta of 1.89. Ferroglobe PLC has a 52-week low of $3.23 and a 52-week high of $6.19.

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

Ferroglobe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 20th were issued a $0.014 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 1.52%. Ferroglobe’s dividend 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.