Bank of Montreal Can Buys 2,442,507 Shares of Ferroglobe PLC (NASDAQ:GSM)

Bank of Montreal Can increased its holdings in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 234.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,484,201 shares of the basic materials company's stock after purchasing an additional 2,442,507 shares during the period. Bank of Montreal Can owned approximately 1.86% of Ferroglobe worth $15,958,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Ferroglobe during the 1st quarter worth approximately $53,000. Legacy Capital Group California Inc. bought a new position in Ferroglobe during the second quarter worth $60,000. Banco Santander S.A. acquired a new stake in Ferroglobe in the second quarter worth $80,000. Vanguard Personalized Indexing Management LLC increased its stake in Ferroglobe by 40.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 4,480 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Ferroglobe during the second quarter valued at about $84,000. Institutional investors and hedge funds own 89.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ferroglobe from a "hold" rating to a "buy" rating in a research note on Wednesday, August 7th.

Ferroglobe Stock Down 0.2 %

Shares of NASDAQ GSM traded down $0.01 during midday trading on Friday, hitting $4.36. 573,818 shares of the stock traded hands, compared to its average volume of 1,299,100. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83. Ferroglobe PLC has a one year low of $3.99 and a one year high of $6.78. The business has a 50 day moving average price of $4.40 and a two-hundred day moving average price of $4.89. The company has a market cap of $817.19 million, a PE ratio of 18.17 and a beta of 1.88.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. The business had revenue of $433.53 million during the quarter, compared to analyst estimates of $443.50 million. During the same period in the previous year, the business posted $0.27 EPS. On average, equities analysts predict that Ferroglobe PLC will post 0.28 EPS for the current year.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be issued a $0.013 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.19%. Ferroglobe's dividend payout ratio is presently 20.83%.

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.