HighTower Advisors LLC Reduces Position in Ferroglobe PLC (NASDAQ:GSM)

HighTower Advisors LLC trimmed its stake in Ferroglobe PLC (NASDAQ:GSM) by 11.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,765 shares of the basic materials company’s stock after selling 3,338 shares during the period. HighTower Advisors LLC’s holdings in Ferroglobe were worth $94,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GSM. Old West Investment Management LLC grew its holdings in 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 valued at $13,495,000 after purchasing an additional 1,781,024 shares during the period. River Global Investors LLP purchased a new position in shares of Ferroglobe during the 4th quarter valued at about $2,408,000. Point72 Asset Management L.P. grew its stake in shares of Ferroglobe by 1,180.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 368,300 shares during the period. Hosking Partners LLP increased its holdings in Ferroglobe by 1.8% in the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after acquiring an additional 159,845 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Ferroglobe during the 3rd quarter worth approximately $150,000. 89.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GSM has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th.

Ferroglobe Stock Performance

NASDAQ:GSM opened at $3.35 on Friday. The stock has a 50-day moving average price of $3.80 and a 200 day moving average price of $4.08. The stock has a market capitalization of $629.41 million, a P/E ratio of 167.50 and a beta of 1.89. Ferroglobe PLC has a 12-month low of $3.19 and a 12-month high of $6.19. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02.

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

Ferroglobe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 20th were paid a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 1.67%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, March 20th. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

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.