Donald Smith & CO. Inc. Acquires 5,326,051 Shares of Ferroglobe PLC (NASDAQ:GSM)

Donald Smith & CO. Inc. grew its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 852.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,951,051 shares of the basic materials company's stock after buying an additional 5,326,051 shares during the quarter. Donald Smith & CO. Inc. owned 3.17% of Ferroglobe worth $22,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Heck Capital Advisors LLC bought a new position in Ferroglobe during the fourth quarter valued at about $37,000. Raymond James Financial Inc. bought a new position in shares of Ferroglobe during the 4th quarter valued at approximately $42,000. LPL Financial LLC bought a new stake in shares of Ferroglobe in the 4th quarter worth approximately $42,000. Barclays PLC bought a new stake in shares of Ferroglobe in the 3rd quarter worth approximately $44,000. Finally, RPO LLC purchased a new position in Ferroglobe in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Stock Performance

GSM traded down $0.02 on Tuesday, hitting $3.06. The company's stock had a trading volume of 621,866 shares, compared to its average volume of 988,382. Ferroglobe PLC has a 12 month low of $3.05 and a 12 month high of $6.19. The firm has a market cap of $573.99 million, a P/E ratio of 152.75 and a beta of 1.58. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The company's 50 day simple moving average is $3.78 and its 200-day simple moving average is $4.07.

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

Ferroglobe Increases Dividend

The business also recently declared 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 is a boost from Ferroglobe's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.83%. Ferroglobe's dividend payout ratio is currently 250.00%.

Analyst Upgrades and Downgrades

GSM has been the topic of several research reports. StockNews.com lowered Ferroglobe from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Seaport Res Ptn downgraded shares of Ferroglobe from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th.

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.