Maverick Capital Ltd. Makes New $1.24 Million Investment in Ferroglobe PLC (NASDAQ:GSM)

Maverick Capital Ltd. acquired a new stake in shares of Ferroglobe PLC (NASDAQ:GSM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 230,538 shares of the basic materials company’s stock, valued at approximately $1,236,000. Maverick Capital Ltd. owned 0.12% of Ferroglobe at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its stake in 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 during the period. ARS Investment Partners LLC lifted its holdings in shares of Ferroglobe by 6.2% in the second quarter. ARS Investment Partners LLC now owns 69,000 shares of the basic materials company’s stock worth $370,000 after buying an additional 4,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Ferroglobe by 40.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 4,480 shares during the last quarter. Kathmere Capital Management LLC grew its stake in Ferroglobe by 22.4% during the second quarter. Kathmere Capital Management LLC now owns 31,909 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 5,830 shares in the last quarter. Finally, Hood River Capital Management LLC grew its stake in Ferroglobe by 41.4% during the second quarter. Hood River Capital Management LLC now owns 20,816 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 6,091 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors.

Ferroglobe Price Performance

Shares of Ferroglobe stock opened at $4.58 on Friday. The firm has a market cap of $858.45 million, a PE ratio of 13.47 and a beta of 1.83. The stock has a 50 day moving average of $4.61 and a 200 day moving average of $5.10. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a 12 month low of $4.07 and a 12 month high of $6.78.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. The firm had revenue of $451.05 million during the quarter, compared to the consensus estimate of $425.55 million. During the same period in the prior year, the company earned $0.30 EPS. On average, research analysts expect that Ferroglobe PLC will post 0.28 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a $0.013 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.14%. Ferroglobe’s dividend payout ratio (DPR) is presently 14.71%.

Wall Street Analyst Weigh In

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

Ferroglobe Company 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.