Barrow Hanley Mewhinney & Strauss LLC Cuts Stake in Ferroglobe PLC $GSM

Barrow Hanley Mewhinney & Strauss LLC decreased its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,934,510 shares of the basic materials company’s stock after selling 411,323 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 3.72% of Ferroglobe worth $31,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GSM. Franklin Resources Inc. purchased a new position in shares of Ferroglobe in the 3rd quarter valued at $519,000. Legal & General Group Plc raised its position in Ferroglobe by 11.5% during the third quarter. Legal & General Group Plc now owns 144,111 shares of the basic materials company’s stock worth $656,000 after acquiring an additional 14,867 shares during the period. Inceptionr LLC acquired a new position in Ferroglobe in the 3rd quarter valued at $54,000. Legacy Capital Group California Inc. grew its holdings in shares of Ferroglobe by 10.0% in the third quarter. Legacy Capital Group California Inc. now owns 104,557 shares of the basic materials company’s stock valued at $476,000 after purchasing an additional 9,491 shares during the period. Finally, Orchard Capital Management LLC increased its stake in Ferroglobe by 3.2% during the third quarter. Orchard Capital Management LLC now owns 484,338 shares of the basic materials company’s stock worth $2,204,000 after acquiring an additional 15,188 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GSM. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ferroglobe has an average rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Price Performance

GSM stock opened at $4.94 on Thursday. The company has a market capitalization of $921.95 million, a PE ratio of -5.37 and a beta of 0.93. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $5.00 and its two-hundred day moving average is $4.68. Ferroglobe PLC has a 52-week low of $2.97 and a 52-week high of $5.74.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $329.38 million during the quarter, compared to analyst estimates of $293.60 million. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. Analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 23rd will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Monday, March 23rd. Ferroglobe’s payout ratio is -6.52%.

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.