Raymond James Financial Inc. Purchases New Stake in Ferroglobe PLC (NASDAQ:GSM)

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in Ferroglobe by 12.1% during the fourth quarter. Legal & General Group Plc now owns 86,965 shares of the basic materials company’s stock worth $331,000 after acquiring an additional 9,400 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Ferroglobe by 43.2% during the fourth quarter. Russell Investments Group Ltd. now owns 1,193,272 shares of the basic materials company’s stock worth $4,534,000 after acquiring an additional 359,807 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Ferroglobe by 47.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 167,570 shares of the basic materials company’s stock worth $637,000 after acquiring an additional 53,756 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in Ferroglobe by 852.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company’s stock worth $22,614,000 after acquiring an additional 5,326,051 shares during the last quarter. Finally, RPO LLC acquired a new stake in Ferroglobe during the fourth quarter worth $53,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GSM has been the subject of a number of research reports. StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Seaport Res Ptn cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

Ferroglobe Trading Down 3.0%

GSM opened at $3.88 on Thursday. Ferroglobe PLC has a 12 month low of $2.97 and a 12 month high of $6.19. The stock has a market capitalization of $724.11 million, a price-to-earnings ratio of 194.00 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. The business has a fifty day moving average price of $3.63 and a 200 day moving average price of $3.89.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The business had revenue of $307.18 million for the quarter, compared to analysts’ expectations of $336.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Sell-side analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Wednesday, June 18th. Ferroglobe’s payout ratio is currently -15.15%.

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.