Bastion Asset Management Inc. Makes New $4.16 Million Investment in Ferroglobe PLC $GSM

Bastion Asset Management Inc. purchased a new position in Ferroglobe PLC (NASDAQ:GSM) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 909,547 shares of the basic materials company’s stock, valued at approximately $4,155,000.

Other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Ferroglobe by 87.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock valued at $22,606,000 after acquiring an additional 2,277,344 shares in the last quarter. Ardsley Advisory Partners LP acquired a new position in Ferroglobe during the fourth quarter valued at approximately $9,837,000. Geode Capital Management LLC grew its holdings in Ferroglobe by 1,068.3% during the second 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 last quarter. Man Investment Partners US LP bought a new position in shares of Ferroglobe in the fourth quarter valued at approximately $6,021,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of Ferroglobe in the third quarter valued at approximately $5,872,000. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Trading Down 0.3%

Shares of NASDAQ:GSM opened at $3.35 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. The stock’s 50-day moving average is $3.80 and its 200-day moving average is $4.38. The company has a market cap of $625.21 million, a P/E ratio of -5.58 and a beta of 1.02. Ferroglobe PLC has a 52-week low of $3.10 and a 52-week high of $5.74.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share 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. Equities research analysts predict that Ferroglobe PLC will post -0.14 earnings per share for the current year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 22nd were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 22nd. Ferroglobe’s payout ratio is currently -10.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ferroglobe currently has a consensus rating of “Hold” and an average 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.