Ameriprise Financial Inc. Has $7.02 Million Position in Ferroglobe PLC (NASDAQ:GSM)

Ameriprise Financial Inc. reduced its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,846,058 shares of the basic materials company’s stock after selling 369,036 shares during the period. Ameriprise Financial Inc. owned about 0.98% of Ferroglobe worth $7,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cooper Creek Partners Management LLC boosted its position in Ferroglobe by 2.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company’s stock valued at $56,964,000 after purchasing an additional 291,201 shares during the last quarter. Hosking Partners LLP boosted its position in Ferroglobe by 1.8% during the fourth quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock valued at $34,216,000 after purchasing an additional 159,845 shares during the last quarter. Wolf Hill Capital Management LP boosted its position in Ferroglobe by 11.0% during the fourth quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company’s stock valued at $27,499,000 after purchasing an additional 714,726 shares during the last quarter. Donald Smith & CO. Inc. boosted its position 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 valued at $22,614,000 after purchasing an additional 5,326,051 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Ferroglobe by 24.2% during the fourth quarter. Royce & Associates LP now owns 3,387,958 shares of the basic materials company’s stock valued at $12,874,000 after purchasing an additional 660,980 shares during the last quarter. 89.64% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Price Performance

NASDAQ:GSM opened at $3.76 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $3.61 and its two-hundred day moving average price is $3.87. The firm has a market capitalization of $701.71 million, a price-to-earnings ratio of 188.00 and a beta of 1.69. Ferroglobe PLC has a 12-month low of $2.97 and a 12-month high of $6.12.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The business had revenue of $307.18 million during the quarter, compared to the consensus estimate of $336.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. On average, analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Wednesday, June 18th will be paid a $0.014 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.06 annualized dividend and a yield of 1.49%. Ferroglobe’s dividend payout ratio is -15.15%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Seaport Res Ptn cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Wall Street Zen cut Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.

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.