Ferroglobe (NASDAQ:GSM) Sees Unusually-High Trading Volume – Still a Buy?

Ferroglobe PLC (NASDAQ:GSM) shares saw strong trading volume on Wednesday . 4,336,073 shares changed hands during mid-day trading, an increase of 219% from the previous session’s volume of 1,358,947 shares.The stock last traded at $3.3350 and had previously closed at $3.44.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a report on Friday, June 26th. One 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, Ferroglobe currently has a consensus rating of “Hold” and an average target price of $6.00.

Ferroglobe Price Performance

The stock’s 50-day moving average is $3.92 and its 200-day moving average is $4.43. The firm has a market cap of $611.20 million, a P/E ratio of -5.44 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 0.09.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The company had revenue of $347.75 million during the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. As a group, equities analysts anticipate that Ferroglobe PLC will post -0.14 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 22nd were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.8%. Ferroglobe’s dividend payout ratio is currently -10.00%.

Institutional Investors Weigh In On Ferroglobe

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in Ferroglobe during the second quarter valued at about $27,000. Quadrant Capital Group LLC lifted its position in shares of 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 acquiring an additional 3,146 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Ferroglobe by 1,017,300.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 10,173 shares during the period. Spire Wealth Management grew its holdings in shares of 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 in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Ferroglobe during the 1st quarter worth approximately $44,000. 89.64% of the stock is owned by institutional investors and hedge funds.

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.