West Tower Group LLC Purchases Shares of 125,285 Ferroglobe PLC $GSM

West Tower Group LLC purchased a new stake in Ferroglobe PLC (NASDAQ:GSM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 125,285 shares of the basic materials company’s stock, valued at approximately $581,000. Ferroglobe makes up approximately 1.3% of West Tower Group LLC’s investment portfolio, making the stock its 19th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Hosking Partners LLP grew its stake in Ferroglobe by 3.1% in the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock valued at $52,040,000 after purchasing an additional 341,194 shares in the last quarter. Old West Investment Management LLC grew its stake in Ferroglobe by 4.7% in the third quarter. Old West Investment Management LLC now owns 3,237,914 shares of the basic materials company’s stock valued at $14,733,000 after purchasing an additional 146,395 shares in the last quarter. Unison Advisors LLC bought a new position in Ferroglobe in the fourth quarter valued at approximately $724,000. Ballast Asset Management LP grew its stake in Ferroglobe by 3.6% in the third quarter. Ballast Asset Management LP now owns 878,576 shares of the basic materials company’s stock valued at $3,998,000 after purchasing an additional 30,489 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Ferroglobe in the third quarter valued at approximately $54,000. 89.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GSM has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Stock Performance

Shares of NASDAQ GSM opened at $4.01 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. Ferroglobe PLC has a 12 month low of $3.51 and a 12 month high of $5.74. The stock has a 50 day moving average of $4.39 and a 200-day moving average of $4.60. The company has a market capitalization of $748.37 million, a P/E ratio of -6.68 and a beta of 1.03.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) 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. As a group, equities research analysts predict that Ferroglobe PLC will post -0.09 EPS for the current year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, June 22nd. Ferroglobe’s payout ratio is currently -10.00%.

Insider Activity at Ferroglobe

In other Ferroglobe news, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of Ferroglobe stock in a transaction dated 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 purchase, the director owned 121,226 shares of the company’s stock, valued at $467,932.36. The trade was a 27.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Madrid Javier Lopez purchased 26,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased 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 in the company, valued at $568,192. The trade was a 21.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 13.07% of the company’s stock.

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.