Sei Investments Co. grew its holdings in shares of Ferroglobe (NASDAQ:GSM) by 64.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,475 shares of the basic materials company’s stock after buying an additional 33,976 shares during the quarter. Sei Investments Co. owned approximately 0.05% of Ferroglobe worth $928,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Trexquant Investment LP acquired a new position in shares of Ferroglobe during the 1st quarter worth about $125,000. PEAK6 Investments L.P. increased its stake in shares of Ferroglobe by 107.8% during the 4th quarter. PEAK6 Investments L.P. now owns 19,705 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 10,221 shares during the last quarter. Invictus RG increased its stake in shares of Ferroglobe by 143.1% during the 4th quarter. Invictus RG now owns 27,043 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 15,921 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Ferroglobe during the 1st quarter worth about $516,000. Finally, First Mercantile Trust Co. increased its stake in shares of Ferroglobe by 93.4% during the 1st quarter. First Mercantile Trust Co. now owns 61,816 shares of the basic materials company’s stock worth $663,000 after purchasing an additional 29,854 shares during the last quarter. 42.71% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on GSM. BidaskClub upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. ValuEngine lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. JPMorgan Chase & Co. upped their price target on shares of Ferroglobe from $13.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, May 23rd. Oppenheimer reiterated a “buy” rating on shares of Ferroglobe in a research note on Tuesday, May 8th. Finally, Zacks Investment Research upgraded shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, April 30th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.50.
Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Monday, May 21st. The basic materials company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. Ferroglobe had a net margin of 3.59% and a return on equity of 6.86%. The business had revenue of $560.70 million for the quarter, compared to analyst estimates of $559.12 million. equities analysts expect that Ferroglobe will post 0.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 8th will be paid a $0.06 dividend. The ex-dividend date is Thursday, June 7th. This represents a $0.24 dividend on an annualized basis and a yield of 2.80%. Ferroglobe’s dividend payout ratio (DPR) is currently 184.62%.
Ferroglobe Company Profile
Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.
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