Ritholtz Wealth Management Cuts Stock Position in Ferroglobe PLC (NASDAQ:GSM)

Ritholtz Wealth Management trimmed its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 41.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,957 shares of the basic materials company’s stock after selling 84,033 shares during the quarter. Ritholtz Wealth Management owned approximately 0.06% of Ferroglobe worth $543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GSM. Quarry LP acquired a new stake in Ferroglobe during the 2nd quarter worth $84,000. Kathmere Capital Management LLC lifted its stake in shares of Ferroglobe by 22.3% in the second quarter. Kathmere Capital Management LLC now owns 31,901 shares of the basic materials company’s stock worth $171,000 after buying an additional 5,822 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Ferroglobe during the 2nd quarter valued at about $551,000. Mackenzie Financial Corp acquired a new stake in Ferroglobe in the 2nd quarter valued at about $230,000. Finally, Maverick Capital Ltd. purchased a new position in Ferroglobe in the 2nd quarter worth approximately $1,236,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ferroglobe Stock Down 1.1 %

NASDAQ GSM opened at $4.53 on Wednesday. The business’s fifty day simple moving average is $4.41 and its 200-day simple moving average is $5.10. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. The firm has a market cap of $849.08 million, a PE ratio of 13.32 and a beta of 1.83. Ferroglobe PLC has a 52 week low of $4.07 and a 52 week high of $6.78.

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

Ferroglobe Announces Dividend

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