First Eagle Investment Management LLC Purchases 21,300 Shares of Ferroglobe PLC (NASDAQ:GSM)

First Eagle Investment Management LLC lifted its position in Ferroglobe PLC (NASDAQ:GSM) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,641,455 shares of the basic materials company’s stock after acquiring an additional 21,300 shares during the period. First Eagle Investment Management LLC owned 0.88% of Ferroglobe worth $8,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GSM. GSA Capital Partners LLP bought a new stake in Ferroglobe during the first quarter worth about $811,000. Orchard Capital Management LLC bought a new stake in shares of Ferroglobe in the 4th quarter worth approximately $6,777,000. Tyro Capital Management LLC purchased a new stake in shares of Ferroglobe in the 4th quarter worth approximately $7,228,000. Grizzlyrock Capital LLC purchased a new stake in shares of Ferroglobe in the 4th quarter worth approximately $19,467,000. Finally, Old West Investment Management LLC increased its position in Ferroglobe by 880.4% during the 2nd quarter. Old West Investment Management LLC now owns 1,127,477 shares of the basic materials company’s stock valued at $6,043,000 after buying an additional 1,012,477 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Performance

Shares of GSM stock opened at $4.31 on Friday. The company has a market capitalization of $807.84 million, a price-to-earnings ratio of 12.68 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.63. Ferroglobe PLC has a one year low of $4.07 and a one year high of $6.78. The company’s 50-day moving average is $4.77 and its 200 day moving average is $5.10.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The company had revenue of $451.05 million during the quarter, compared to the consensus estimate of $425.55 million. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. During the same quarter last year, the firm earned $0.30 earnings per share. Sell-side analysts expect that Ferroglobe PLC will post 0.28 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be paid a $0.013 dividend. This represents a $0.05 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, September 20th. Ferroglobe’s dividend payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a 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.