Bank of Montreal Can Sells 2,523,619 Shares of Ferroglobe PLC (NASDAQ:GSM)

Bank of Montreal Can decreased its holdings in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 72.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 960,582 shares of the basic materials company's stock after selling 2,523,619 shares during the quarter. Bank of Montreal Can owned 0.51% of Ferroglobe worth $3,650,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GSM. State Street Corp lifted its holdings in Ferroglobe by 1.6% in the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company's stock worth $757,000 after purchasing an additional 2,615 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ferroglobe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock worth $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% during the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company's stock worth $84,000 after buying an additional 7,271 shares in the last quarter. Barclays PLC acquired a new position in Ferroglobe in the third quarter worth $44,000. Finally, Heck Capital Advisors LLC acquired a new stake in Ferroglobe in the 4th quarter valued at about $37,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Price Performance

GSM traded down $0.01 on Friday, hitting $3.44. 905,038 shares of the stock were exchanged, compared to its average volume of 1,177,200. The firm has a market capitalization of $646.32 million, a price-to-earnings ratio of 172.00 and a beta of 1.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. Ferroglobe PLC has a 12 month low of $2.97 and a 12 month high of $6.19. The business has a 50-day moving average of $3.67 and a two-hundred day moving average of $4.00.

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

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were issued a dividend of $0.014 per share. This is a positive change 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 yield of 1.63%. Ferroglobe's dividend payout ratio (DPR) is presently 250.00%.

Wall Street Analyst Weigh In

GSM has been the topic of a number of recent research reports. StockNews.com cut shares of Ferroglobe from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Seaport Res Ptn cut 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.