Ferroglobe PLC (NASDAQ:GSM) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 64.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,990 shares of the basic materials company’s stock after buying an additional 78,509 shares during the quarter. Ritholtz Wealth Management owned approximately 0.11% of Ferroglobe worth $1,077,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Ferroglobe in the 1st quarter worth approximately $811,000. Orchard Capital Management LLC purchased a new stake in shares of Ferroglobe in the fourth quarter valued at $6,777,000. First Eagle Investment Management LLC increased its stake in Ferroglobe by 8.6% in the first quarter. First Eagle Investment Management LLC now owns 1,620,155 shares of the basic materials company’s stock valued at $8,068,000 after purchasing an additional 127,795 shares during the last quarter. Tyro Capital Management LLC purchased a new position in Ferroglobe during the fourth quarter worth about $7,228,000. Finally, Grizzlyrock Capital LLC acquired a new stake in Ferroglobe in the 4th quarter worth about $19,467,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Analysts Set New Price Targets

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

NASDAQ:GSM opened at $4.42 on Tuesday. The company has a market cap of $828.46 million, a P/E ratio of 13.00 and a beta of 1.87. The firm’s 50 day moving average is $5.13 and its two-hundred day moving average is $5.18. Ferroglobe PLC has a fifty-two week low of $4.26 and a fifty-two week high of $6.78. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02.

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 the consensus estimate of $0.08 by $0.05. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. The business had revenue of $451.05 million for the quarter, compared to analyst estimates of $425.55 million. During the same period last year, the company posted $0.30 EPS. Analysts expect that Ferroglobe PLC will post 0.28 EPS for the current year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, September 20th. Ferroglobe’s payout ratio is currently 14.71%.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.