Legacy Capital Group California Inc. Buys 42,493 Shares of Ferroglobe PLC (NASDAQ:GSM)

Legacy Capital Group California Inc. boosted its stake in Ferroglobe PLC (NASDAQ:GSM) by 382.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,618 shares of the basic materials company’s stock after acquiring an additional 42,493 shares during the period. Legacy Capital Group California Inc.’s holdings in Ferroglobe were worth $249,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its holdings 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. ARS Investment Partners LLC boosted its holdings in shares of Ferroglobe by 6.2% during the 2nd quarter. ARS Investment Partners LLC now owns 69,000 shares of the basic materials company’s stock valued at $370,000 after buying an additional 4,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Ferroglobe by 40.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company’s stock valued at $84,000 after buying an additional 4,480 shares in the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Ferroglobe by 22.3% during the 2nd quarter. Kathmere Capital Management LLC now owns 31,901 shares of the basic materials company’s stock valued at $171,000 after buying an additional 5,822 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in shares of Ferroglobe by 41.4% during the 2nd quarter. Hood River Capital Management LLC now owns 20,816 shares of the basic materials company’s stock valued at $112,000 after buying an additional 6,091 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Price Performance

GSM opened at $4.29 on Friday. The stock has a 50-day moving average price of $4.39 and a 200-day moving average price of $5.06. 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 firm has a market cap of $804.09 million, a PE ratio of 12.62 and a beta of 1.83. Ferroglobe PLC has a 1 year low of $4.07 and a 1 year high of $6.78.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $425.55 million. During the same quarter in the previous year, the firm earned $0.30 EPS. Sell-side analysts predict 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 was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, September 20th. Ferroglobe’s dividend payout ratio (DPR) is 14.71%.

Wall Street Analysts Forecast Growth

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.