Sei Investments Co. Buys 256,449 Shares of Ferroglobe PLC $GSM

Sei Investments Co. raised its stake in Ferroglobe PLC (NASDAQ:GSM) by 67.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,440 shares of the basic materials company’s stock after buying an additional 256,449 shares during the period. Sei Investments Co.’s holdings in Ferroglobe were worth $2,634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hosking Partners LLP boosted its holdings in shares of Ferroglobe by 3.1% during the 4th quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock valued at $52,040,000 after acquiring an additional 341,194 shares in the last quarter. Bastion Asset Management Inc. acquired a new position in Ferroglobe in the 1st quarter worth about $4,155,000. CenterBook Partners LP increased its holdings in Ferroglobe by 59.1% in the 4th quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company’s stock worth $6,840,000 after purchasing an additional 547,847 shares in the last quarter. West Tower Group LLC bought a new position in Ferroglobe in the fourth quarter valued at about $581,000. Finally, Man Investment Partners US LP bought a new position in Ferroglobe in the fourth quarter valued at about $6,021,000. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Price Performance

Shares of NASDAQ:GSM opened at $4.49 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.80 and a current ratio of 1.29. Ferroglobe PLC has a 52 week low of $3.08 and a 52 week high of $5.74. The firm has a market cap of $837.97 million, a PE ratio of -20.41 and a beta of 1.02. The firm’s fifty day moving average is $3.60 and its 200-day moving average is $4.23.

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. The company had revenue of $347.75 million during the quarter. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%. Sell-side analysts predict that Ferroglobe PLC will post -0.18 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be paid a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.3%. Ferroglobe’s dividend payout ratio is presently -27.27%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings cut Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Wall Street Zen raised Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ferroglobe has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe 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.