Connor Clark & Lunn Investment Management Ltd. Takes Position in Ferroglobe PLC (NASDAQ:GSM)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 103,538 shares of the basic materials company's stock, valued at approximately $393,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Ferroglobe at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GSM. Bank of Montreal Can grew its position in Ferroglobe by 234.5% during the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company's stock valued at $15,958,000 after buying an additional 2,442,507 shares during the period. Old West Investment Management LLC grew its position in shares of Ferroglobe by 158.0% during the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company's stock valued at $13,495,000 after acquiring an additional 1,781,024 shares during the period. River Global Investors LLP purchased a new stake in shares of Ferroglobe in the 4th quarter worth $2,408,000. Point72 Asset Management L.P. increased its stake in shares of Ferroglobe by 1,180.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company's stock worth $1,854,000 after purchasing an additional 368,300 shares in the last quarter. Finally, Hosking Partners LLP raised its holdings in Ferroglobe by 1.8% in the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company's stock worth $34,216,000 after purchasing an additional 159,845 shares during the period. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

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Ferroglobe Price Performance

Shares of GSM stock remained flat at $3.79 on Thursday. 501,577 shares of the stock traded hands, compared to its average volume of 1,176,345. 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 PLC has a 12-month low of $3.23 and a 12-month high of $6.19. The business has a 50 day moving average price of $3.86 and a 200 day moving average price of $4.11. The stock has a market cap of $712.08 million, a price-to-earnings ratio of 189.50 and a beta of 1.89.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. The firm had revenue of $367.51 million during the quarter, compared to analyst estimates of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Sell-side analysts forecast 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 given a dividend of $0.014 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.48%. This is a boost from Ferroglobe's previous quarterly dividend of $0.01. Ferroglobe's dividend payout ratio (DPR) is presently 250.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Seaport Res Ptn cut Ferroglobe from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. StockNews.com downgraded Ferroglobe from a "buy" rating to a "hold" rating in a research note on Friday, February 21st.

About Ferroglobe

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.