Ferroglobe (NASDAQ:GSM) Stock Price Down 5.7% – Here’s Why

Shares of Ferroglobe PLC (NASDAQ:GSM) were down 5.7% during mid-day trading on Monday . The company traded as low as $3.84 and last traded at $3.8550. Approximately 1,108,969 shares changed hands during trading, a decline of 14% from the average daily volume of 1,286,650 shares. The stock had previously closed at $4.09.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.00.

Ferroglobe Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.43 and a quick ratio of 0.80. The stock has a market cap of $716.66 million, a price-to-earnings ratio of -6.40 and a beta of 1.00. The company’s fifty day moving average price is $4.23 and its 200-day moving average price is $4.56.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. The company had revenue of $347.75 million for the quarter. On average, research analysts expect that Ferroglobe PLC will post -0.09 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 22nd will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 22nd. Ferroglobe’s dividend payout ratio is presently -10.00%.

Insider Buying and Selling at Ferroglobe

In other news, Chairman Madrid Javier Lopez bought 26,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average cost of $3.86 per share, with a total value of $100,360.00. Following the transaction, the chairman directly owned 147,200 shares in the company, valued at approximately $568,192. The trade was a 21.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the acquisition, the director owned 121,226 shares in the company, valued at $467,932.36. This trade represents a 27.30% increase in their position. The disclosure for this purchase is available in the SEC filing. 13.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently bought and sold shares of GSM. California State Teachers Retirement System acquired a new position in Ferroglobe in the 2nd quarter worth approximately $27,000. Quadrant Capital Group LLC increased its holdings in Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after buying an additional 3,146 shares during the period. BNP Paribas Financial Markets grew its position in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 10,173 shares during the period. Spire Wealth Management grew its position in Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 2,740 shares during the period. Finally, R Squared Ltd acquired a new stake in Ferroglobe during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.