Ferroglobe (NASDAQ:GSM) Shares Down 4.9% – What’s Next?

Ferroglobe PLC (NASDAQ:GSM)’s stock price fell 4.9% during mid-day trading on Tuesday . The company traded as low as $4.02 and last traded at $3.9550. 291,486 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,316,926 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

Several brokerages have recently issued reports on GSM. Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ferroglobe has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Trading Down 3.4%

The firm has a market capitalization of $742.79 million, a price-to-earnings ratio of -4.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.66. The company has a 50-day moving average price of $4.77 and a 200-day moving average price of $4.67.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Saturday, February 14th. The basic materials company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $329.38 million for the quarter, compared to analyst estimates of $293.60 million. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%. As a group, research analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 23rd were given a dividend of $0.015 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.06 annualized dividend and a dividend yield of 1.5%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is presently -6.52%.

Insiders Place Their Bets

In related news, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of the company’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 director directly owned 121,226 shares of the company’s stock, valued at approximately $467,932.36. This represents a 27.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Madrid Javier Lopez purchased 26,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were bought at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the purchase, the chairman directly owned 147,200 shares in the company, valued at $568,192. This represents a 21.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.07% of the company’s stock.

Institutional Trading of Ferroglobe

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in Ferroglobe by 87.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock worth $22,606,000 after buying an additional 2,277,344 shares during the last quarter. Ardsley Advisory Partners LP acquired a new stake in shares of Ferroglobe in the fourth quarter valued at approximately $9,837,000. Geode Capital Management LLC grew its position in shares of Ferroglobe by 1,068.3% during the second quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock worth $5,719,000 after acquiring an additional 1,424,998 shares during the last quarter. Man Investment Partners US LP purchased a new position in shares of Ferroglobe during the fourth quarter worth approximately $6,021,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $5,872,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

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.