42,935 Shares in Ferroglobe PLC (NASDAQ:GSM) Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new position in shares of Ferroglobe PLC (NASDAQ:GSM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 42,935 shares of the basic materials company’s stock, valued at approximately $230,000.

Several other hedge funds have also added to or reduced their stakes in GSM. Hosking Partners LLP raised its holdings in Ferroglobe by 48.7% in the 2nd quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock valued at $48,824,000 after acquiring an additional 2,981,907 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Ferroglobe by 15.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,621,112 shares of the basic materials company’s stock worth $40,849,000 after buying an additional 1,003,918 shares in the last quarter. Masters Capital Management LLC raised its holdings in shares of Ferroglobe by 37.0% during the 1st quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company’s stock worth $15,687,000 after buying an additional 850,000 shares in the last quarter. Thomist Capital Management LP raised its holdings in shares of Ferroglobe by 159.3% during the 2nd quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company’s stock worth $18,031,000 after buying an additional 1,924,879 shares in the last quarter. Finally, Grizzlyrock Capital LLC acquired a new position in shares of Ferroglobe during the 4th quarter worth $19,467,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ferroglobe Price Performance

Ferroglobe stock opened at $4.53 on Tuesday. 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 52 week low of $4.07 and a 52 week high of $6.78. The stock has a market capitalization of $849.08 million, a P/E ratio of 13.32 and a beta of 1.83. The stock has a fifty day moving average of $4.49 and a 200-day moving average of $5.12.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data 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 business 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 quarter in the previous year, the company posted $0.30 EPS. On average, sell-side analysts expect that Ferroglobe PLC will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a dividend of $0.013 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.15%. Ferroglobe’s dividend payout ratio is currently 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.