First Hawaiian Bank Purchases Shares of 76,614 Ferroglobe PLC (NASDAQ:GSM)

First Hawaiian Bank acquired a new position in shares of Ferroglobe PLC (NASDAQ:GSM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 76,614 shares of the basic materials company’s stock, valued at approximately $411,000.

Several other hedge funds also recently modified their holdings of GSM. Grizzlyrock Capital LLC bought a new position in Ferroglobe during the fourth quarter worth about $19,467,000. Hosking Partners LLP lifted its holdings in Ferroglobe by 29.8% during the 1st quarter. Hosking Partners LLP now owns 6,127,015 shares of the basic materials company’s stock valued at $30,513,000 after purchasing an additional 1,407,079 shares during the last quarter. Tyro Capital Management LLC acquired a new position in shares of Ferroglobe in the fourth quarter valued at $7,228,000. Orchard Capital Management LLC bought a new stake in shares of Ferroglobe during the fourth quarter worth approximately $6,777,000. Finally, Masters Capital Management LLC grew its holdings in shares of Ferroglobe by 37.0% during the 1st quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company’s stock worth $15,687,000 after purchasing an additional 850,000 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

Analysts Set New Price Targets

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

Ferroglobe Trading Up 2.8 %

NASDAQ GSM traded up $0.13 on Tuesday, hitting $4.82. The company’s stock had a trading volume of 1,653,542 shares, compared to its average volume of 1,397,071. The firm has a market cap of $903.43 million, a PE ratio of 14.18 and a beta of 1.87. The company’s 50-day moving average is $5.56 and its 200 day moving average is $5.28. The company has a quick ratio of 1.02, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a 1-year low of $4.26 and a 1-year high of $6.78.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $451.05 million for the quarter, compared to the consensus estimate of $425.55 million. Ferroglobe had a return on equity of 15.06% and a net margin of 3.92%. During the same period in the previous year, the business earned $0.30 EPS. As a group, analysts predict that Ferroglobe PLC will post 0.24 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were issued a dividend of $0.013 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.05 annualized dividend and a yield of 1.08%. Ferroglobe’s payout ratio is 14.71%.

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.