Marshall Wace LLP Decreases Stock Position in Ferroglobe PLC (NASDAQ:GSM)

Marshall Wace LLP cut its holdings in Ferroglobe PLC (NASDAQ:GSM) by 94.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,951 shares of the basic materials company’s stock after selling 481,922 shares during the period. Marshall Wace LLP’s holdings in Ferroglobe were worth $144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its holdings in Ferroglobe by 266.1% in the 1st quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 3,864 shares in the last quarter. Virtu Financial LLC purchased a new position in Ferroglobe in the 1st quarter valued at about $53,000. Legacy Capital Group California Inc. purchased a new position in Ferroglobe in the 2nd quarter valued at about $60,000. Hood River Capital Management LLC purchased a new position in Ferroglobe in the 1st quarter valued at about $73,000. Finally, Banco Santander S.A. purchased a new position in Ferroglobe in the 2nd quarter valued at about $80,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ferroglobe Trading Up 2.7 %

NASDAQ GSM opened at $4.53 on Monday. The company has a market cap of $849.08 million, a P/E ratio of 13.32 and a beta of 1.83. 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 company has a 50-day moving average of $4.42 and a 200-day moving average of $5.10. Ferroglobe PLC has a 12 month low of $4.07 and a 12 month high of $6.78.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) 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 firm had revenue of $451.05 million for the quarter, compared to analysts’ expectations of $425.55 million. During the same period last year, the business posted $0.30 earnings per share. As a group, equities analysts predict that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a $0.013 dividend. This represents a $0.05 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, September 20th. Ferroglobe’s dividend 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.