Insider Buying: Ferroglobe (NASDAQ:GSM) Director Buys $21,360.00 in Stock

Ferroglobe PLC (NASDAQ:GSM) Director Bruce Larmour Crockett bought 8,000 shares of the stock in a transaction dated Friday, November 6th. The stock was purchased at an average cost of $2.67 per share, with a total value of $21,360.00. Following the completion of the purchase, the director directly owned 54,000 shares in the company, valued at approximately $144,180. This trade represents a 17.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ferroglobe Trading Down 1.6%

Shares of GSM stock traded down $0.05 on Friday, reaching $3.00. 2,320,003 shares of the stock were exchanged, compared to its average volume of 1,733,057. The stock has a market cap of $559.89 million, a PE ratio of 18.75 and a beta of 1.21. Ferroglobe PLC has a one year low of $2.50 and a one year high of $5.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.34 and a quick ratio of 0.79. The stock has a 50 day moving average price of $3.94 and a 200 day moving average price of $4.13.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $369.76 million for the quarter, compared to analyst estimates of $382.80 million. Ferroglobe had a net margin of 2.13% and a negative return on equity of 5.15%. Equities research analysts forecast that Ferroglobe PLC will post -0.05 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 22nd will be given a dividend of $0.0150 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 2.0%. Ferroglobe’s dividend payout ratio is presently 37.50%.

Analyst Ratings Changes

GSM has been the topic of several recent research reports. Needham & Company LLC set a $5.00 target price on shares of Ferroglobe in a research note on Friday, November 6th. Jefferies Financial Group set a $5.00 price target on shares of Ferroglobe in a research note on Friday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Ferroglobe in a report on Monday, November 2nd. Finally, Wall Street Zen raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.00.

Top Ferroglobe Stories

Investors following GSM have been watching these stories:

• Positive Sentiment: Four Ferroglobe directors and insiders bought a combined 80,842 shares on November 6 for about $212,000, increasing their reported holdings. Investors may interpret the purchases as a sign of confidence in the company. Insider purchase report
• Neutral Sentiment: The company declared a quarterly dividend of $0.015 per share, equivalent to $0.06 annually. This provides a modest income component but is unlikely to be a major near-term catalyst.
• Negative Sentiment: Ferroglobe’s latest reported quarter showed a loss of $0.06 per share, worse than the $0.04 loss analysts expected; revenue of $369.8 million also missed estimates of $382.8 million. The results underscore continued operating pressure.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd raised its holdings in shares of 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 acquiring an additional 4,952 shares during the period. StoneX Group Inc. bought a new stake in Ferroglobe in the 3rd quarter valued at $48,000. PDT Partners LLC bought a new stake in Ferroglobe in the 2nd quarter valued at $44,000. Public Employees Retirement System of Ohio boosted its stake in Ferroglobe by 10.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company’s stock worth $649,000 after purchasing an additional 14,422 shares during the period. Finally, Abel Hall LLC acquired a new position in Ferroglobe in the 3rd quarter worth $61,000. Institutional investors own 89.64% of the company’s stock.

About Ferroglobe

Ferroglobe plc produces silicon metal, silicon-based alloys and manganese-based alloys. Its products are used in industries including aluminum, steel, chemicals and energy. Silicon metal is an important input for aluminum alloys, silicones and polysilicon, while the company’s alloys are used in steelmaking and other metallurgical applications. Ferroglobe serves customers in markets around the world. The company was formed in 2015 through the merger of Globe Specialty Metals and Grupo FerroAtlántica.