Maven Securities LTD Sells 2,421,000 Shares of Ferroglobe PLC (NASDAQ:GSM)

Maven Securities LTD decreased its position in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 71.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 958,698 shares of the basic materials company's stock after selling 2,421,000 shares during the quarter. Maven Securities LTD owned approximately 0.51% of Ferroglobe worth $5,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd increased its stake in shares of Ferroglobe by 266.1% in the 1st quarter. Covestor Ltd now owns 5,316 shares of the basic materials company's stock worth $26,000 after purchasing an additional 3,864 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Ferroglobe during the 1st quarter valued at approximately $53,000. Legacy Capital Group California Inc. purchased a new stake in Ferroglobe in the 2nd quarter worth approximately $60,000. Hood River Capital Management LLC bought a new stake in Ferroglobe during the 1st quarter worth approximately $73,000. Finally, Banco Santander S.A. bought a new stake in Ferroglobe during the 2nd quarter worth approximately $80,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ferroglobe Price Performance

Shares of Ferroglobe stock traded down $0.36 during trading hours on Wednesday, hitting $4.60. The company's stock had a trading volume of 3,210,814 shares, compared to its average volume of 1,383,939. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.63. Ferroglobe PLC has a 12-month low of $4.07 and a 12-month high of $6.78. The business has a 50 day moving average price of $4.53 and a two-hundred day moving average price of $5.11. The company has a market cap of $862.20 million, a PE ratio of 13.53 and a beta of 1.83.

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

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were issued a $0.013 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.13%. 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.