Maverick Capital Ltd. Makes New Investment in Ferroglobe PLC (NASDAQ:GSM)

Maverick Capital Ltd. bought a new position in Ferroglobe PLC (NASDAQ:GSM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 230,538 shares of the basic materials company's stock, valued at approximately $1,236,000. Maverick Capital Ltd. owned approximately 0.12% of Ferroglobe as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hosking Partners LLP increased its stake in shares of Ferroglobe by 48.7% during the second quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company's stock valued at $48,824,000 after purchasing an additional 2,981,907 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Ferroglobe by 15.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,621,112 shares of the basic materials company's stock valued at $40,849,000 after buying an additional 1,003,918 shares in the last quarter. Masters Capital Management LLC raised its position in shares of Ferroglobe by 37.0% in the 1st quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company's stock worth $15,687,000 after purchasing an additional 850,000 shares during the last quarter. Thomist Capital Management LP raised its holdings in Ferroglobe by 159.3% in the 2nd quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company's stock worth $18,031,000 after acquiring an additional 1,924,879 shares during the last quarter. Finally, Grizzlyrock Capital LLC purchased a new position in shares of Ferroglobe during the fourth quarter valued at approximately $19,467,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ferroglobe from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th.

Ferroglobe Price Performance

NASDAQ GSM traded up $0.19 on Friday, reaching $4.58. The company had a trading volume of 1,136,469 shares, compared to its average volume of 1,359,947. The stock has a market capitalization of $858.45 million, a PE ratio of 13.47 and a beta of 1.83. Ferroglobe PLC has a 12 month low of $4.07 and a 12 month high of $6.78. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. The firm's 50 day moving average price is $4.59 and its 200 day moving average price is $5.10.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The business had revenue of $451.05 million during the quarter, compared to analysts' expectations of $425.55 million. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. During the same quarter last year, the business posted $0.30 EPS. As a group, equities analysts predict that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a $0.013 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.05 annualized dividend and a yield of 1.14%. Ferroglobe's dividend payout ratio is currently 14.71%.

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.