Donald Smith & CO. Inc. Trims Position in Ferroglobe PLC $GSM

Donald Smith & CO. Inc. decreased its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 29.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,359,073 shares of the basic materials company’s stock after selling 2,194,891 shares during the period. Donald Smith & CO. Inc.’s holdings in Ferroglobe were worth $24,866,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GSM. Millennium Management LLC increased its position in Ferroglobe by 168.8% during the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock valued at $4,121,000 after purchasing an additional 697,476 shares during the period. Goldman Sachs Group Inc. increased its position in Ferroglobe by 32.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock valued at $1,231,000 after purchasing an additional 81,611 shares during the period. Geode Capital Management LLC increased its position in Ferroglobe by 1,068.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock valued at $5,719,000 after purchasing an additional 1,424,998 shares during the period. Legal & General Group Plc increased its position in Ferroglobe by 48.6% during the 2nd quarter. Legal & General Group Plc now owns 129,244 shares of the basic materials company’s stock valued at $474,000 after purchasing an additional 42,279 shares during the period. Finally, Rhumbline Advisers increased its position in Ferroglobe by 4,411.5% during the 2nd quarter. Rhumbline Advisers now owns 178,611 shares of the basic materials company’s stock valued at $655,000 after purchasing an additional 174,652 shares during the period. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Insider Activity at Ferroglobe

In related news, Chairman Madrid Javier Lopez purchased 26,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the acquisition, the chairman owned 147,200 shares in the company, valued at $568,192. The trade was a 21.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average cost of $3.86 per share, with a total value of $100,360.00. Following the acquisition, the director owned 121,226 shares in the company, valued at $467,932.36. This represents a 27.30% increase in their position. The SEC filing for this purchase provides additional information. 13.07% of the stock is owned by insiders.

Ferroglobe Stock Down 0.8%

GSM stock opened at $3.81 on Thursday. The firm has a 50 day moving average of $4.24 and a 200 day moving average of $4.56. The stock has a market capitalization of $711.06 million, a PE ratio of -6.35 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 0.09. Ferroglobe PLC has a 52 week low of $3.51 and a 52 week high of $5.74.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%.The business had revenue of $347.75 million for the quarter. Sell-side analysts forecast that Ferroglobe PLC will post -0.09 earnings per share for the current year.

Ferroglobe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 22nd. Ferroglobe’s payout ratio is -10.00%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.00.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.