Quantbot Technologies LP Makes New Investment in Ferroglobe PLC (NASDAQ:GSM)

Quantbot Technologies LP purchased a new position in Ferroglobe PLC (NASDAQ:GSM) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 20,245 shares of the basic materials company’s stock, valued at approximately $77,000.

A number of other institutional investors also recently modified their holdings of GSM. State Street Corp lifted its holdings in Ferroglobe by 1.6% in the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock valued at $757,000 after buying an additional 2,615 shares during the period. New York State Common Retirement Fund raised its position in shares of Ferroglobe by 48.9% in the 4th quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 7,271 shares in the last quarter. Barclays PLC acquired a new position in shares of Ferroglobe in the 3rd quarter valued at about $44,000. Heck Capital Advisors LLC bought a new stake in shares of Ferroglobe during the 4th quarter valued at about $37,000. Finally, Legacy Capital Group California Inc. grew its stake in Ferroglobe by 19.9% during the fourth quarter. Legacy Capital Group California Inc. now owns 64,297 shares of the basic materials company’s stock worth $244,000 after purchasing an additional 10,679 shares during the period. 89.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GSM. StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th.

Ferroglobe Stock Performance

Shares of GSM opened at $3.71 on Tuesday. Ferroglobe PLC has a one year low of $3.23 and a one year high of $6.19. The company has a market cap of $697.05 million, a PE ratio of 185.50 and a beta of 1.89. The stock has a 50-day moving average of $3.83 and a 200-day moving average of $4.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The firm had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. On average, equities research analysts predict that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is 250.00%.

Ferroglobe Company Profile

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.