Renaissance Technologies LLC Sells 141,300 Shares of Ferroglobe PLC (NASDAQ:GSM)

Renaissance Technologies LLC cut its stake in Ferroglobe PLC (NASDAQ:GSM) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,741,394 shares of the basic materials company’s stock after selling 141,300 shares during the quarter. Renaissance Technologies LLC owned approximately 2.00% of Ferroglobe worth $20,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hosking Partners LLP lifted its holdings in Ferroglobe by 48.7% during the 2nd quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock worth $48,824,000 after purchasing an additional 2,981,907 shares during the last quarter. Masters Capital Management LLC lifted its holdings in shares of Ferroglobe by 37.0% during the first 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. Grizzlyrock Capital LLC bought a new stake in shares of Ferroglobe in the fourth quarter valued at about $19,467,000. Tyro Capital Management LLC boosted its holdings in Ferroglobe by 79.4% in the 1st quarter. Tyro Capital Management LLC now owns 1,992,274 shares of the basic materials company’s stock valued at $9,922,000 after purchasing an additional 881,976 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of Ferroglobe by 8.6% during the first quarter. First Eagle Investment Management LLC now owns 1,620,155 shares of the basic materials company’s stock worth $8,068,000 after purchasing an additional 127,795 shares during the period. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Down 2.3 %

Shares of NASDAQ GSM opened at $4.20 on Friday. The stock has a market capitalization of $787.22 million, a P/E ratio of 12.35 and a beta of 1.83. The stock’s fifty day moving average is $4.74 and its 200 day moving average is $5.10. Ferroglobe PLC has a 52 week low of $4.07 and a 52 week high of $6.78. 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 (NASDAQ:GSM) last issued its earnings results on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. The company had revenue of $451.05 million during the quarter, compared to analysts’ expectations of $425.55 million. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. During the same period in the previous year, the company earned $0.30 EPS. Sell-side analysts forecast that Ferroglobe PLC will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently announced 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 dividend yield of 1.24%. The ex-dividend date is Friday, September 20th. Ferroglobe’s dividend payout ratio is presently 14.71%.

Analyst Upgrades and Downgrades

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

Ferroglobe Profile

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.