Bardin Hill Management Partners LP Sells 45,942 Shares of Ferroglobe PLC (NASDAQ:GSM)

Bardin Hill Management Partners LP trimmed its position in Ferroglobe PLC (NASDAQ:GSM) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,897,920 shares of the basic materials company’s stock after selling 45,942 shares during the period. Ferroglobe makes up approximately 4.1% of Bardin Hill Management Partners LP’s portfolio, making the stock its 5th biggest position. Bardin Hill Management Partners LP owned approximately 1.01% of Ferroglobe worth $10,173,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Ferroglobe in the first quarter valued at approximately $811,000. Orchard Capital Management LLC bought a new position in Ferroglobe during the 4th quarter valued at $6,777,000. First Eagle Investment Management LLC boosted its holdings in Ferroglobe by 8.6% during the 1st quarter. First Eagle Investment Management LLC now owns 1,620,155 shares of the basic materials company’s stock worth $8,068,000 after acquiring an additional 127,795 shares during the last quarter. Tyro Capital Management LLC bought a new stake in shares of Ferroglobe in the 4th quarter worth $7,228,000. Finally, Maverick Capital Ltd. bought a new position in shares of Ferroglobe during the second quarter valued at about $1,236,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Price Performance

GSM opened at $4.96 on Wednesday. The firm has a market cap of $929.67 million, a P/E ratio of 14.59 and a beta of 1.83. 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 PLC has a fifty-two week low of $4.07 and a fifty-two week high of $6.78. The firm has a 50-day moving average of $4.55 and a 200 day moving average of $5.12.

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

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 yield of 1.05%. Ferroglobe’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

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

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.