1492 Capital Management LLC Invests $1.23 Million in Ferroglobe PLC (NASDAQ:GSM)

1492 Capital Management LLC bought a new position in Ferroglobe PLC (NASDAQ:GSM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 323,840 shares of the basic materials company's stock, valued at approximately $1,231,000. 1492 Capital Management LLC owned about 0.17% of Ferroglobe as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in Ferroglobe by 1.6% in the third quarter. State Street Corp now owns 163,238 shares of the basic materials company's stock worth $757,000 after acquiring an additional 2,615 shares in the last quarter. Geode Capital Management LLC raised its position in Ferroglobe by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock valued at $857,000 after buying an additional 2,760 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Ferroglobe by 48.9% in the 4th quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 7,271 shares during the period. Qtron Investments LLC lifted its position in Ferroglobe by 49.7% in the 4th quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company's stock worth $85,000 after buying an additional 7,396 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in Ferroglobe by 23.0% during the fourth quarter. XTX Topco Ltd now owns 39,653 shares of the basic materials company's stock valued at $151,000 after purchasing an additional 7,427 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

Ferroglobe Stock Performance

Ferroglobe stock traded up $0.09 on Tuesday, reaching $3.62. 523,919 shares of the stock were exchanged, compared to its average volume of 1,176,224. The stock has a market cap of $679.20 million, a PE ratio of 181.25 and a beta of 1.58. The firm has a fifty day moving average price of $3.64 and a two-hundred day moving average price of $3.98. Ferroglobe PLC has a twelve month low of $2.97 and a twelve month high of $6.19. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $367.51 million during the quarter, compared to analysts' expectations of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Sell-side analysts anticipate that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th were paid a $0.014 dividend. This is an increase from Ferroglobe's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.55%. Ferroglobe's dividend payout ratio (DPR) is presently 250.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GSM shares. StockNews.com downgraded shares of Ferroglobe from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Seaport Res Ptn lowered Ferroglobe from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th.

Ferroglobe 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.