Charles Schwab Investment Management Inc. Cuts Stock Position in Ferroglobe PLC (NASDAQ:GSM)

Charles Schwab Investment Management Inc. decreased its holdings in Ferroglobe PLC (NASDAQ:GSM) by 51.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,098 shares of the basic materials company’s stock after selling 39,080 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ferroglobe were worth $141,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Heck Capital Advisors LLC purchased a new stake in Ferroglobe during the 4th quarter worth about $37,000. Barclays PLC purchased a new stake in shares of Ferroglobe during the third quarter worth approximately $44,000. New York State Common Retirement Fund raised its holdings in Ferroglobe by 48.9% in the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 7,271 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Ferroglobe during the 4th quarter worth approximately $96,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Ferroglobe in the 3rd quarter valued at approximately $99,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Analyst Upgrades and Downgrades

GSM has been the subject of several recent analyst reports. Seaport Res Ptn cut shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Ferroglobe Price Performance

GSM stock opened at $3.69 on Wednesday. The stock has a market cap of $693.30 million, a price-to-earnings ratio of 184.50 and a beta of 1.89. Ferroglobe PLC has a fifty-two week low of $3.23 and a fifty-two week high of $6.19. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $3.83 and a 200 day moving average price of $4.09.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. Equities research analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were issued a dividend of $0.014 per share. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.52%. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

About Ferroglobe

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.