Lombard Odier Asset Management USA Corp Makes New Investment in Ferroglobe PLC $GSM

Lombard Odier Asset Management USA Corp purchased a new stake in Ferroglobe PLC (NASDAQ:GSM) during the second quarter, Holdings Channel reports. The fund purchased 499,391 shares of the basic materials company’s stock, valued at approximately $1,833,000.

Other hedge funds have also recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its holdings in Ferroglobe by 19.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock valued at $28,667,000 after purchasing an additional 1,288,610 shares during the last quarter. Old West Investment Management LLC boosted its position in shares of Ferroglobe by 58.7% during the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company’s stock worth $12,747,000 after buying an additional 1,270,625 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Ferroglobe by 1.1% in the second quarter. Russell Investments Group Ltd. now owns 2,216,431 shares of the basic materials company’s stock valued at $8,134,000 after buying an additional 23,575 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Ferroglobe by 1.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,065,772 shares of the basic materials company’s stock valued at $7,581,000 after buying an additional 25,000 shares during the period. Finally, Ardsley Advisory Partners LP lifted its stake in Ferroglobe by 8.1% during the 1st quarter. Ardsley Advisory Partners LP now owns 1,802,595 shares of the basic materials company’s stock worth $6,688,000 after acquiring an additional 135,000 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Trading Down 3.0%

NASDAQ:GSM opened at $4.52 on Tuesday. Ferroglobe PLC has a 1 year low of $2.97 and a 1 year high of $5.74. The stock has a market cap of $843.57 million, a P/E ratio of -6.11 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66. The stock has a 50-day simple moving average of $4.60 and a 200-day simple moving average of $4.30.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $311.70 million for the quarter, compared to analysts’ expectations of $393.80 million. Ferroglobe had a negative return on equity of 6.13% and a negative net margin of 9.92%. As a group, analysts anticipate that Ferroglobe PLC will post 0.33 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, December 29th. Stockholders of record on Monday, December 22nd will be issued a $0.014 dividend. The ex-dividend date is Monday, December 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.2%. Ferroglobe’s dividend payout ratio is presently -8.11%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GSM. Zacks Research downgraded Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. B. Riley lowered their price objective on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Ferroglobe presently has an average rating of “Reduce” and an average target price of $6.00.

Ferroglobe Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.