Mackenzie Financial Corp Sells 24,426 Shares of Ferroglobe PLC (NASDAQ:GSM)

Mackenzie Financial Corp trimmed its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,664 shares of the basic materials company’s stock after selling 24,426 shares during the quarter. Mackenzie Financial Corp’s holdings in Ferroglobe were worth $519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GSM. Schwartz Investment Counsel Inc. acquired a new stake in shares of Ferroglobe in the fourth quarter valued at about $2,730,000. Ritholtz Wealth Management acquired a new stake in Ferroglobe during the 4th quarter valued at approximately $308,000. Mutual Advisors LLC bought a new position in Ferroglobe during the 3rd quarter worth approximately $52,000. O Shaughnessy Asset Management LLC lifted its position in shares of Ferroglobe by 253.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 413,498 shares of the basic materials company’s stock worth $2,150,000 after purchasing an additional 296,662 shares during the period. Finally, PEAK6 Investments LLC acquired a new position in shares of Ferroglobe in the 3rd quarter worth approximately $326,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Stock Up 0.8 %

Shares of NASDAQ:GSM opened at $5.23 on Friday. Ferroglobe PLC has a 1 year low of $3.95 and a 1 year high of $6.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32. The business’s 50-day moving average is $4.85 and its 200-day moving average is $5.24. The company has a market capitalization of $980.26 million, a price-to-earnings ratio of 11.37 and a beta of 2.01.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The firm had revenue of $375.95 million for the quarter, compared to analyst estimates of $318.80 million. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. Equities research analysts predict that Ferroglobe PLC will post 0.26 earnings per share for the current year.

Ferroglobe Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were paid a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 21st. Ferroglobe’s dividend payout ratio is presently 10.87%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th.

Ferroglobe Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.