Acadian Asset Management LLC Takes Position in Ferroglobe PLC (NASDAQ:GSM)

Acadian Asset Management LLC acquired a new position in Ferroglobe PLC (NASDAQ:GSM) in the second quarter, Holdings Channel.com reports. The fund acquired 96,752 shares of the basic materials company’s stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ritholtz Wealth Management increased its stake in Ferroglobe by 64.1% during the 2nd quarter. Ritholtz Wealth Management now owns 200,990 shares of the basic materials company’s stock valued at $1,077,000 after purchasing an additional 78,509 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Ferroglobe in the 2nd quarter valued at $95,000. Hosking Partners LLP raised its stake 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 worth $48,824,000 after acquiring an additional 2,981,907 shares during the last quarter. Banco Santander S.A. acquired a new stake in Ferroglobe during the 2nd quarter worth about $80,000. Finally, Legacy Capital Group California Inc. purchased a new stake in Ferroglobe during the 2nd quarter valued at about $60,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ferroglobe Stock Up 0.5 %

GSM stock opened at $4.20 on Thursday. The company has a market capitalization of $787.22 million, a P/E ratio of 12.35 and a beta of 1.83. Ferroglobe PLC has a 12 month low of $4.07 and a 12 month high of $6.78. The firm’s fifty day simple moving average is $4.80 and its 200-day simple moving average is $5.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $451.05 million during 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 last year, the business posted $0.30 EPS. As a group, equities research analysts forecast that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be issued a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a 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.