Envestnet Asset Management Inc. Has $637,000 Stock Position in Ferroglobe PLC (NASDAQ:GSM)

Envestnet Asset Management Inc. raised its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 47.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167,570 shares of the basic materials company’s stock after buying an additional 53,756 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Ferroglobe worth $637,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GSM. Geode Capital Management LLC grew its holdings in shares of Ferroglobe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company’s stock worth $857,000 after purchasing an additional 2,760 shares in the last quarter. New York State Common Retirement Fund lifted its position in Ferroglobe by 48.9% in the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock worth $84,000 after purchasing an additional 7,271 shares during the period. Barclays PLC acquired a new stake in Ferroglobe during the third quarter worth $44,000. Heck Capital Advisors LLC bought a new stake in Ferroglobe in the 4th quarter valued at $37,000. Finally, Legacy Capital Group California Inc. raised its stake in shares of Ferroglobe by 19.9% in the 4th quarter. Legacy Capital Group California Inc. now owns 64,297 shares of the basic materials company’s stock valued at $244,000 after buying an additional 10,679 shares in the last quarter. 89.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Ferroglobe Stock Performance

Shares of NASDAQ:GSM opened at $3.54 on Friday. The stock has a market capitalization of $660.66 million, a price-to-earnings ratio of 177.00 and a beta of 1.58. The business’s fifty day moving average price is $3.60 and its two-hundred day moving average price is $3.92. Ferroglobe PLC has a fifty-two week low of $2.97 and a fifty-two week high of $6.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $367.51 million for the quarter, compared to analyst estimates of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. As a group, analysts predict that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th were paid a $0.014 dividend. The ex-dividend date was Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is 250.00%.

Ferroglobe Company 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.