Ferroglobe PLC (NASDAQ:GSM) Shareholders Set to Receive $0.01 Quarterly Dividend

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Tuesday, December 22nd will be given a dividend of $0.0150 per share by the basic materials company on Wednesday, December 30th. This represents a $0.06 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, December 22nd.

Ferroglobe has a dividend payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 14.6%.

Ferroglobe Stock Down 6.0%

Shares of NASDAQ:GSM opened at $3.63 on Wednesday. The stock has a market capitalization of $677.47 million, a price-to-earnings ratio of -16.69 and a beta of 1.21. Ferroglobe has a 1-year low of $3.08 and a 1-year high of $5.66. The company’s fifty day moving average is $4.16 and its two-hundred day moving average is $4.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.29.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $369.76 million for the quarter, compared to the consensus estimate of $382.80 million. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%. Equities analysts anticipate that Ferroglobe will post -0.05 EPS for the current year.

Insider Activity at Ferroglobe

In other news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of Ferroglobe stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.30, for a total transaction of $138,855.60. Following the sale, the insider owned 31,693 shares of the company’s stock, valued at approximately $136,279.90. The trade was a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.07% of the company’s stock.

Institutional Investors Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently modified their holdings of the stock. StoneX Group Inc. acquired a new position in shares of Ferroglobe during the third quarter valued at approximately $48,000. Covestor Ltd raised its holdings in Ferroglobe by 28.4% during the third quarter. Covestor Ltd now owns 22,418 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 4,952 shares in the last quarter. State of Wyoming raised its holdings in Ferroglobe by 68.4% during the third quarter. State of Wyoming now owns 114,275 shares of the basic materials company’s stock worth $454,000 after purchasing an additional 46,426 shares in the last quarter. Abel Hall LLC acquired a new stake in Ferroglobe in the third quarter worth approximately $61,000. Finally, SummerHaven Investment Management LLC acquired a new stake in Ferroglobe in the third quarter worth approximately $530,000. 89.64% of the stock is currently owned by institutional investors.

About Ferroglobe

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based alloys. The company manufactures silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloy products used in the production of steel, aluminum, silicones, solar materials and other industrial goods.

Ferroglobe also operates quartz resources and produces related raw materials used in its alloy manufacturing processes. Its products support several industries, including automotive, construction, energy, chemicals, electronics and renewable energy.