General American Investors Co. Inc. Sells 100,000 Shares of Ferroglobe PLC (NASDAQ:GSM)

General American Investors Co. Inc. decreased its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 9.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 957,591 shares of the basic materials company’s stock after selling 100,000 shares during the period. General American Investors Co. Inc. owned approximately 0.51% of Ferroglobe worth $5,133,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management boosted its stake in shares of Ferroglobe by 64.1% in the second quarter. Ritholtz Wealth Management now owns 200,990 shares of the basic materials company’s stock valued at $1,077,000 after buying an additional 78,509 shares during the period. nVerses Capital LLC acquired a new position in Ferroglobe in the 2nd quarter valued at $95,000. Hosking Partners LLP raised its stake in Ferroglobe by 48.7% in the second quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock valued at $48,824,000 after purchasing an additional 2,981,907 shares in the last quarter. Banco Santander S.A. acquired a new stake in Ferroglobe during the second quarter worth about $80,000. Finally, Legacy Capital Group California Inc. acquired a new stake in Ferroglobe during the second quarter worth about $60,000. Institutional investors own 89.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th.

Ferroglobe Stock Performance

Shares of GSM stock opened at $4.21 on Friday. Ferroglobe PLC has a 1-year low of $4.11 and a 1-year high of $6.78. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The stock has a market cap of $789.10 million, a price-to-earnings ratio of 12.38 and a beta of 1.87. The stock has a 50-day moving average of $5.03 and a 200-day moving average of $5.14.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. The firm had revenue of $451.05 million for the quarter, compared to the consensus estimate of $425.55 million. During the same quarter in the previous year, the company earned $0.30 EPS. On average, equities research analysts forecast that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be paid a $0.013 dividend. This represents a $0.05 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, September 20th. Ferroglobe’s dividend payout ratio (DPR) is presently 14.71%.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.