Public Employees Retirement System of Ohio Takes Position in Ferroglobe PLC $GSM

Public Employees Retirement System of Ohio bought a new position in shares of Ferroglobe PLC (NASDAQ:GSM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 171,178 shares of the basic materials company’s stock, valued at approximately $544,000.

A number of other institutional investors have also made changes to their positions in GSM. Donald Smith & CO. Inc. bought a new stake in Ferroglobe in the 2nd quarter valued at $25,843,000. Goldman Sachs Group Inc. lifted its holdings in Ferroglobe by 87.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock valued at $22,606,000 after purchasing an additional 2,277,344 shares during the last quarter. Ardsley Advisory Partners LP bought a new position in Ferroglobe during the fourth quarter worth $9,837,000. Geode Capital Management LLC boosted its position in Ferroglobe by 1,068.3% during the second quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock worth $5,719,000 after purchasing an additional 1,424,998 shares during the period. Finally, Man Investment Partners US LP acquired a new position in shares of Ferroglobe in the fourth quarter valued at $6,021,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Stock Performance

GSM opened at $4.46 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74. The business has a fifty day simple moving average of $3.85 and a 200 day simple moving average of $4.10. Ferroglobe PLC has a 1 year low of $3.08 and a 1 year high of $5.74. The company has a market capitalization of $832.37 million, a PE ratio of -20.27 and a beta of 1.00.

Ferroglobe Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings lowered shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.00.

Insider Activity

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the transaction, the insider directly owned 31,693 shares in the company, valued at approximately $136,279.90. This represents a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.07% of the company’s stock.

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.