Ferroglobe (NASDAQ:GSM) Releases Earnings Results

Ferroglobe (NASDAQ:GSM) issued its quarterly earnings data on Tuesday. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01, Zacks reports. Ferroglobe had a negative return on equity of 8.38% and a negative net margin of 12.78%.The business had revenue of $329.38 million during the quarter, compared to analysts’ expectations of $293.60 million.

Ferroglobe Stock Up 4.1%

Shares of NASDAQ:GSM opened at $5.02 on Thursday. Ferroglobe has a fifty-two week low of $2.97 and a fifty-two week high of $5.74. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $4.91 and its 200-day simple moving average is $4.59. The company has a market cap of $936.88 million, a price-to-earnings ratio of -5.46 and a beta of 1.09.

Ferroglobe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be paid a $0.015 dividend. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Monday, March 23rd. This represents a $0.06 annualized dividend and a dividend yield of 1.2%. Ferroglobe’s dividend payout ratio (DPR) is -8.11%.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board acquired a new position in shares of Ferroglobe during the 4th quarter worth $190,000. Marshall Wace LLP boosted its holdings in Ferroglobe by 49.8% during the fourth quarter. Marshall Wace LLP now owns 35,800 shares of the basic materials company’s stock worth $166,000 after buying an additional 11,900 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Ferroglobe during the third quarter worth about $58,000. Polymer Capital Management HK LTD purchased a new position in Ferroglobe in the third quarter valued at about $68,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Ferroglobe during the 3rd quarter valued at approximately $122,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GSM. Zacks Research raised shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wall Street Zen lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. B. Riley Financial cut their price objective on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ferroglobe presently has an average rating of “Hold” and an average target price of $6.00.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.