Raymond James Financial Inc. Buys Shares of 11,000 Ferroglobe PLC (NASDAQ:GSM)

Raymond James Financial Inc. purchased a new position in Ferroglobe PLC (NASDAQ:GSM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 11,000 shares of the basic materials company’s stock, valued at approximately $42,000.

A number of other large investors also recently modified their holdings of GSM. Heck Capital Advisors LLC acquired a new stake in Ferroglobe during the fourth quarter worth about $37,000. Barclays PLC acquired a new stake in shares of Ferroglobe during the 3rd quarter worth approximately $44,000. New York State Common Retirement Fund increased its position in shares of Ferroglobe by 48.9% during the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 7,271 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Ferroglobe in the fourth quarter valued at $96,000. Finally, Orion Portfolio Solutions LLC bought a new position in Ferroglobe in the third quarter worth $99,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GSM shares. Seaport Res Ptn lowered shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. StockNews.com cut shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Ferroglobe Trading Up 2.2 %

GSM stock opened at $3.31 on Monday. Ferroglobe PLC has a 1-year low of $2.97 and a 1-year high of $6.19. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $3.70 and its 200-day moving average is $4.03. The firm has a market cap of $621.90 million, a P/E ratio of 165.50 and a beta of 1.58.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $367.51 million for the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Equities analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 20th were given a dividend of $0.014 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio (DPR) is 250.00%.

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.