Ballast Asset Management LP Boosts Holdings in Ferroglobe PLC (NASDAQ:GSM)

Ballast Asset Management LP boosted its stake in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 739,945 shares of the basic materials company's stock after purchasing an additional 150,892 shares during the quarter. Ballast Asset Management LP owned approximately 0.39% of Ferroglobe worth $2,812,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC purchased a new stake in shares of Ferroglobe during the 3rd quarter worth $44,000. Heck Capital Advisors LLC acquired a new position in shares of Ferroglobe in the 4th quarter valued at $37,000. Raymond James Financial Inc. acquired a new position in Ferroglobe in the fourth quarter valued at $42,000. LPL Financial LLC acquired a new position in Ferroglobe in the 4th quarter valued at about $42,000. Finally, Quantbot Technologies LP acquired a new position in shares of Ferroglobe in the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds own 89.64% of the company's stock.

Ferroglobe Price Performance

GSM stock traded down $0.09 on Friday, reaching $3.35. 2,327,837 shares of the company's stock were exchanged, compared to its average volume of 1,191,737. The stock has a fifty day moving average of $3.80 and a 200-day moving average of $4.08. The firm has a market cap of $629.41 million, a PE ratio of 167.50 and a beta of 1.89. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a twelve month low of $3.19 and a twelve month high of $6.19.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The company had revenue of $367.51 million for the quarter, compared to analyst estimates of $393.00 million. As a group, equities analysts predict 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. Stockholders of record on Thursday, March 20th were paid 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 was Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.67%. Ferroglobe's payout ratio is 250.00%.

Analysts Set New Price Targets

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

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.