Ardsley Advisory Partners LP Takes $9.84 Million Position in Ferroglobe PLC $GSM

Ardsley Advisory Partners LP bought a new stake in shares of Ferroglobe PLC (NASDAQ:GSM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,120,000 shares of the basic materials company’s stock, valued at approximately $9,837,000. Ardsley Advisory Partners LP owned 1.14% of Ferroglobe as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC increased its stake in shares of Ferroglobe by 229.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 88,214 shares of the basic materials company’s stock valued at $409,000 after buying an additional 61,405 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Ferroglobe by 11.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,707 shares of the basic materials company’s stock valued at $329,000 after buying an additional 7,399 shares during the period. Osaic Holdings Inc. boosted its position in shares of Ferroglobe by 2,207.3% during the fourth quarter. Osaic Holdings Inc. now owns 55,953 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 53,528 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Ferroglobe by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 143,039 shares of the basic materials company’s stock valued at $664,000 after purchasing an additional 37,284 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Ferroglobe during the fourth quarter valued at approximately $550,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Stock Performance

NASDAQ GSM opened at $3.84 on Thursday. 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 twelve month low of $3.51 and a twelve month high of $5.74. The firm has a market capitalization of $716.66 million, a PE ratio of -6.40 and a beta of 1.00. The stock’s 50 day moving average is $4.23 and its 200 day moving average is $4.56.

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

Ferroglobe Announces Dividend

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

Insider Buying and Selling at Ferroglobe

In related news, Chairman Madrid Javier Lopez bought 26,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were acquired at an average cost of $3.86 per share, with a total value of $100,360.00. Following the completion of the acquisition, the chairman owned 147,200 shares of the company’s stock, valued at $568,192. The trade was a 21.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was bought at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the acquisition, the director directly owned 121,226 shares of the company’s stock, valued at approximately $467,932.36. This represents a 27.30% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 13.07% of the company’s stock.

Analysts Set New Price Targets

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

Ferroglobe Company Profile

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.