Bank of Montreal Can Increases Stock Holdings in Ferroglobe PLC (NASDAQ:GSM)

Bank of Montreal Can increased its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 399.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,041,694 shares of the basic materials company’s stock after buying an additional 833,227 shares during the period. Bank of Montreal Can owned about 0.56% of Ferroglobe worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

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

Ferroglobe Trading Up 6.9 %

Shares of GSM stock opened at $4.96 on Wednesday. The stock’s fifty day moving average is $4.56 and its two-hundred day moving average is $5.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.63. The firm has a market capitalization of $929.67 million, a P/E ratio of 14.59 and a beta of 1.83. Ferroglobe PLC has a fifty-two week low of $4.07 and a fifty-two week high of $6.78.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The business had revenue of $451.05 million for 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 in the previous year, the firm earned $0.30 EPS. Research analysts expect that Ferroglobe PLC will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a dividend of $0.013 per share. The ex-dividend date was Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.05%. Ferroglobe’s dividend payout ratio is currently 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.