Ferroglobe PLC (NASDAQ:GSM) Shares Sold by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP lessened its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 24.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,379,128 shares of the basic materials company’s stock after selling 2,086,202 shares during the period. Ferroglobe accounts for 3.4% of Wolf Hill Capital Management LP’s holdings, making the stock its 10th biggest holding. Wolf Hill Capital Management LP owned about 3.40% of Ferroglobe worth $34,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Grizzlyrock Capital LLC acquired a new position in shares of Ferroglobe in the 4th quarter valued at about $19,467,000. Hosking Partners LLP increased its holdings in Ferroglobe by 48.7% in the second quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock worth $48,824,000 after purchasing an additional 2,981,907 shares in the last quarter. Thomist Capital Management LP lifted its stake in Ferroglobe by 159.3% in the second quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company’s stock valued at $18,031,000 after buying an additional 1,924,879 shares during the period. Tyro Capital Management LLC bought a new position in shares of Ferroglobe during the 4th quarter worth approximately $7,228,000. Finally, Orchard Capital Management LLC acquired a new stake in shares of Ferroglobe during the 4th quarter worth approximately $6,777,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th.

Ferroglobe Stock Performance

Shares of Ferroglobe stock opened at $4.20 on Friday. The business has a 50-day simple moving average of $4.74 and a 200 day simple moving average of $5.10. Ferroglobe PLC has a one year low of $4.07 and a one year high of $6.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91. The firm has a market capitalization of $787.22 million, a price-to-earnings ratio of 12.35 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The company had revenue of $451.05 million for the quarter, compared to analyst estimates of $425.55 million. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, research analysts anticipate that Ferroglobe PLC will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be given a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, September 20th. Ferroglobe’s payout ratio is presently 14.71%.

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.