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

General American Investors Co. Inc. lowered its holdings in Ferroglobe PLC (NASDAQ:GSM) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 957,591 shares of the basic materials company’s stock after selling 100,000 shares during the quarter. General American Investors Co. Inc.’s holdings in Ferroglobe were worth $5,133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd increased its holdings in Ferroglobe by 266.1% during the 1st quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 3,864 shares in the last quarter. Virtu Financial LLC purchased a new stake in Ferroglobe in the 1st quarter valued at $53,000. Legacy Capital Group California Inc. bought a new position in Ferroglobe during the 2nd quarter valued at $60,000. Hood River Capital Management LLC purchased a new position in Ferroglobe during the 1st quarter worth $73,000. Finally, Banco Santander S.A. bought a new stake in shares of Ferroglobe in the 2nd quarter worth $80,000. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Price Performance

Shares of NASDAQ GSM opened at $4.21 on Friday. The company has a market capitalization of $789.10 million, a PE ratio of 12.38 and a beta of 1.87. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $5.03 and its 200-day moving average price is $5.14. Ferroglobe PLC has a twelve month low of $4.11 and a twelve month high of $6.78.

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

Ferroglobe Announces Dividend

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

Analyst Ratings Changes

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

Ferroglobe Profile

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.