Old West Investment Management LLC Acquires 1,781,024 Shares of Ferroglobe PLC (NASDAQ:GSM)

Old West Investment Management LLC boosted its position in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 158.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,908,501 shares of the basic materials company's stock after purchasing an additional 1,781,024 shares during the quarter. Ferroglobe comprises 5.2% of Old West Investment Management LLC's holdings, making the stock its 3rd biggest position. Old West Investment Management LLC owned 1.55% of Ferroglobe worth $13,495,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Barclays PLC acquired a new stake in shares of Ferroglobe during the third quarter worth $44,000. Legacy Capital Group California Inc. acquired a new position in shares of Ferroglobe during the 2nd quarter worth about $60,000. Banco Santander S.A. bought a new stake in shares of Ferroglobe in the 2nd quarter valued at about $80,000. Vanguard Personalized Indexing Management LLC boosted its stake in Ferroglobe by 40.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company's stock worth $84,000 after acquiring an additional 4,480 shares during the last quarter. Finally, Quarry LP bought a new stake in Ferroglobe in the second quarter valued at approximately $84,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Stock Up 0.7 %

GSM traded up $0.03 during trading on Wednesday, reaching $4.30. The company had a trading volume of 916,873 shares, compared to its average volume of 1,342,721. The business's fifty day moving average price is $4.37 and its 200 day moving average price is $4.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.00. Ferroglobe PLC has a 12 month low of $3.99 and a 12 month high of $6.78. The company has a market cap of $805.97 million, a P/E ratio of 17.92 and a beta of 1.86.

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

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be paid a $0.013 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.21%. Ferroglobe's dividend payout ratio is 20.83%.

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.