Bastion Asset Management Inc. Purchases New Stake in Ferroglobe PLC $GSM

Bastion Asset Management Inc. acquired a new position in Ferroglobe PLC (NASDAQ:GSM) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 909,547 shares of the basic materials company’s stock, valued at approximately $4,155,000. Bastion Asset Management Inc. owned approximately 0.49% of Ferroglobe at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GSM. Millennium Management LLC grew its position in Ferroglobe by 168.8% during the first 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 in the last quarter. Goldman Sachs Group Inc. lifted its position in Ferroglobe by 32.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after buying an additional 81,611 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 1,424,998 shares during the period. Legal & General Group Plc boosted its stake in shares of 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 buying an additional 42,279 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of 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 acquiring an additional 174,652 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Trading Down 0.3%

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

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The business had revenue of $347.75 million for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. On average, research analysts predict that Ferroglobe PLC will post -0.14 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a research note on Friday, June 26th. One equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.