Deprince Race & Zollo Inc. Sells 1,013,091 Shares of Ferroglobe PLC $GSM

Deprince Race & Zollo Inc. cut its stake in Ferroglobe PLC (NASDAQ:GSM) by 58.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 732,166 shares of the basic materials company’s stock after selling 1,013,091 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.39% of Ferroglobe worth $3,331,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GSM. Donald Smith & CO. Inc. increased its position in shares of Ferroglobe by 19.8% in the second quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock worth $28,667,000 after purchasing an additional 1,288,610 shares during the period. Grizzlyrock Capital LLC grew its stake in Ferroglobe by 4.3% during the second quarter. Grizzlyrock Capital LLC now owns 4,540,272 shares of the basic materials company’s stock worth $16,663,000 after buying an additional 187,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Ferroglobe by 1.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,216,431 shares of the basic materials company’s stock valued at $8,134,000 after buying an additional 23,575 shares during the period. First Eagle Investment Management LLC increased its holdings in Ferroglobe by 1.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,065,772 shares of the basic materials company’s stock valued at $7,581,000 after buying an additional 25,000 shares during the period. Finally, Ardsley Advisory Partners LP raised its position in shares of Ferroglobe by 11.4% in the 2nd quarter. Ardsley Advisory Partners LP now owns 2,007,595 shares of the basic materials company’s stock valued at $7,368,000 after buying an additional 205,000 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors.

Ferroglobe Stock Performance

NASDAQ GSM opened at $4.72 on Monday. The firm’s fifty day moving average price is $4.49 and its two-hundred day moving average price is $4.38. The stock has a market cap of $880.89 million, a PE ratio of -6.38 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66. Ferroglobe PLC has a fifty-two week low of $2.97 and a fifty-two week high of $5.74.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $311.70 million for the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. On average, equities analysts expect that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, December 22nd. Ferroglobe’s payout ratio is -8.11%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Zacks Research cut Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. B. Riley reduced their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ferroglobe currently has an average rating of “Reduce” and an average target price of $6.00.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.