Ferroglobe PLC $GSM Shares Sold by Invesco Ltd.

Invesco Ltd. cut its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 2.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,161 shares of the basic materials company’s stock after selling 4,319 shares during the period. Invesco Ltd. owned about 0.11% of Ferroglobe worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GSM. Raymond James Financial Inc. purchased a new position in Ferroglobe in the fourth quarter valued at $42,000. Northern Trust Corp increased its stake in shares of Ferroglobe by 25.0% during the fourth quarter. Northern Trust Corp now owns 120,567 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 24,111 shares in the last quarter. Concentric Capital Strategies LP purchased a new stake in Ferroglobe during the 4th quarter valued at about $2,078,000. Deprince Race & Zollo Inc. grew its stake in Ferroglobe by 117.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,235,155 shares of the basic materials company’s stock valued at $4,694,000 after acquiring an additional 666,041 shares in the last quarter. Finally, Graham Capital Management L.P. grew its stake in Ferroglobe by 1,185.6% during the 4th quarter. Graham Capital Management L.P. now owns 912,398 shares of the basic materials company’s stock valued at $3,467,000 after acquiring an additional 841,427 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Ferroglobe has an average rating of “Hold”.

Ferroglobe Stock Performance

Shares of GSM stock opened at $4.15 on Thursday. The firm’s 50 day moving average price is $4.26 and its 200-day moving average price is $3.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 1.56. Ferroglobe PLC has a one year low of $2.97 and a one year high of $5.12. The firm has a market cap of $774.51 million, a P/E ratio of -7.28 and a beta of 1.69.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%.The company had revenue of $386.86 million during the quarter, compared to analyst estimates of $398.00 million. As a group, equities research analysts predict that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.014 per share. The ex-dividend date is Monday, September 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. Ferroglobe’s dividend payout ratio is -10.53%.

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.