Marshall Wace LLP Sells 481,922 Shares of Ferroglobe PLC (NASDAQ:GSM)

Marshall Wace LLP trimmed its stake in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 94.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,951 shares of the basic materials company's stock after selling 481,922 shares during the quarter. Marshall Wace LLP's holdings in Ferroglobe were worth $144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Ferroglobe by 266.1% during the first quarter. Covestor Ltd now owns 5,316 shares of the basic materials company's stock valued at $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 first quarter valued at $53,000. Legacy Capital Group California Inc. bought a new position in shares of Ferroglobe during the second quarter valued at $60,000. Hood River Capital Management LLC purchased a new stake in Ferroglobe during the first quarter valued at $73,000. Finally, Banco Santander S.A. purchased a new stake in Ferroglobe during the second quarter valued at $80,000. 89.64% of the stock is owned by institutional investors.

Ferroglobe Stock Performance

Ferroglobe stock traded up $0.05 during mid-day trading on Monday, reaching $4.58. 1,205,135 shares of the stock traded hands, compared to its average volume of 1,373,816. The stock has a market capitalization of $858.45 million, a PE ratio of 13.47 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91. Ferroglobe PLC has a 12-month low of $4.07 and a 12-month high of $6.78. The business's 50-day moving average is $4.41 and its 200-day moving average is $5.10.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. The company 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 in the prior year, the business earned $0.30 earnings per share. As a group, sell-side analysts predict that Ferroglobe PLC will post 0.28 EPS for the current fiscal year.

Ferroglobe Announces Dividend

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

Wall Street Analysts Forecast Growth

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

About Ferroglobe

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.