Hood River Capital Management LLC Acquires New Shares in Ferroglobe PLC (NASDAQ:GSM)

Hood River Capital Management LLC acquired a new stake in Ferroglobe PLC (NASDAQ:GSM) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,725 shares of the basic materials company’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd increased its stake in shares of Ferroglobe by 266.1% in 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. Aigen Investment Management LP purchased a new stake in shares of Ferroglobe in the 4th quarter worth $109,000. Saxon Interests Inc. purchased a new stake in shares of Ferroglobe in the 1st quarter worth $172,000. Chesapeake Capital Corp IL purchased a new stake in shares of Ferroglobe in the 4th quarter worth $229,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Ferroglobe in the 4th quarter worth $247,000. 89.64% of the stock is owned by institutional investors.

Ferroglobe Price Performance

GSM stock traded up $0.02 during trading on Friday, reaching $5.43. The company’s stock had a trading volume of 527,802 shares, compared to its average volume of 816,822. Ferroglobe PLC has a 1 year low of $4.26 and a 1 year high of $6.78. The company has a quick ratio of 1.02, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.02 billion, a P/E ratio of 15.97 and a beta of 1.87. The company’s fifty day moving average is $5.66 and its 200-day moving average is $5.32.

Ferroglobe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 17th were given a dividend of $0.013 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.96%. Ferroglobe’s payout ratio is 14.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd.

Ferroglobe Company 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.