General American Investors Co. Inc. Sells 366,308 Shares of Ferroglobe PLC $GSM

General American Investors Co. Inc. lessened its position in Ferroglobe PLC (NASDAQ:GSM) by 44.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 461,283 shares of the basic materials company’s stock after selling 366,308 shares during the quarter. General American Investors Co. Inc. owned about 0.25% of Ferroglobe worth $1,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd grew its position in shares of Ferroglobe by 28.4% in the third quarter. Covestor Ltd now owns 22,418 shares of the basic materials company’s stock valued at $89,000 after purchasing an additional 4,952 shares during the last quarter. R Squared Ltd bought a new stake in Ferroglobe during the 1st quarter valued at approximately $44,000. PFG Investments LLC bought a new stake in Ferroglobe during the 1st quarter valued at approximately $45,000. PDT Partners LLC acquired a new stake in Ferroglobe in the 2nd quarter valued at approximately $44,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Ferroglobe by 10.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company’s stock valued at $649,000 after buying an additional 14,422 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

Insider Buying and Selling

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the sale, the insider directly owned 31,693 shares of the company’s stock, valued at $136,279.90. This trade represents a 50.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.07% of the stock is currently owned by company insiders.

Ferroglobe Stock Performance

Ferroglobe stock traded up $0.03 on Friday, hitting $2.56. The company’s stock had a trading volume of 2,670,308 shares, compared to its average volume of 1,220,270. Ferroglobe PLC has a one year low of $2.50 and a one year high of $5.66. The firm has a market cap of $477.77 million, a P/E ratio of 16.00 and a beta of 1.21. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $4.07 and a 200-day moving average price of $4.18.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $369.76 million for the quarter, compared to analyst estimates of $382.80 million. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%. On average, equities analysts anticipate that Ferroglobe PLC will post -0.05 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 22nd will be issued a $0.0150 dividend. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.06 annualized dividend and a dividend yield of 2.3%. Ferroglobe’s dividend payout ratio is presently 37.50%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Needham & Company LLC set a $5.00 target price on Ferroglobe in a research report on Friday. Jefferies Financial Group set a $5.00 price target on Ferroglobe in a research note on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ferroglobe in a report on Monday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.33.

Ferroglobe Company Profile

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based alloys. The company manufactures silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloy products used in the production of steel, aluminum, silicones, solar materials and other industrial goods.

Ferroglobe also operates quartz resources and produces related raw materials used in its alloy manufacturing processes. Its products support several industries, including automotive, construction, energy, chemicals, electronics and renewable energy.