Point72 Asset Management L.P. Acquires 368,300 Shares of Ferroglobe PLC (NASDAQ:GSM)

Point72 Asset Management L.P. grew its position in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 1,180.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,500 shares of the basic materials company's stock after purchasing an additional 368,300 shares during the quarter. Point72 Asset Management L.P. owned about 0.21% of Ferroglobe worth $1,854,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GSM. ARS Investment Partners LLC grew its position in Ferroglobe by 6.2% in the 2nd quarter. ARS Investment Partners LLC now owns 69,000 shares of the basic materials company's stock valued at $370,000 after acquiring an additional 4,000 shares in the last quarter. Legacy Capital Group California Inc. acquired a new stake in Ferroglobe in the 2nd quarter worth about $60,000. Banco Santander S.A. purchased a new stake in shares of Ferroglobe during the 2nd quarter worth about $80,000. Hosking Partners LLP grew its stake in shares of Ferroglobe by 48.7% in 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 buying an additional 2,981,907 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Ferroglobe in the 2nd quarter valued at about $95,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Price Performance

NASDAQ GSM traded down $0.01 on Tuesday, reaching $4.29. The company's stock had a trading volume of 585,747 shares, compared to its average volume of 1,342,941. Ferroglobe PLC has a twelve month low of $3.99 and a twelve month high of $6.78. The firm's 50 day moving average is $4.39 and its two-hundred day moving average is $4.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83. The stock has a market cap of $804.07 million, a PE ratio of 17.92 and a beta of 1.86.

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

Ferroglobe Dividend Announcement

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

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.