Ferroglobe PLC (NASDAQ:GSM) Sees Large Decline in Short Interest

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,660,000 shares, a drop of 14.0% from the January 31st total of 1,930,000 shares. Based on an average daily trading volume, of 903,500 shares, the short-interest ratio is currently 1.8 days. Currently, 1.4% of the shares of the company are short sold.

Analysts Set New Price Targets

GSM has been the subject of a number of research reports. Seaport Res Ptn cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in shares of Ferroglobe in the fourth quarter worth approximately $37,000. Raymond James Financial Inc. purchased a new position in shares of Ferroglobe during the 4th quarter valued at $42,000. LPL Financial LLC bought a new position in Ferroglobe in the 4th quarter worth $42,000. Barclays PLC purchased a new stake in Ferroglobe in the 3rd quarter worth $44,000. Finally, RPO LLC bought a new stake in Ferroglobe during the fourth quarter valued at about $53,000. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Down 2.4 %

Shares of GSM stock opened at $3.29 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. Ferroglobe has a 12 month low of $3.23 and a 12 month high of $6.19. The stock has a market cap of $618.14 million, a P/E ratio of 164.50 and a beta of 1.83. The company has a 50 day simple moving average of $3.86 and a two-hundred day simple moving average of $4.16.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The company had revenue of $367.51 million for the quarter, compared to analysts’ expectations of $393.00 million. On average, research analysts expect that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 20th will be paid a dividend of $0.014 per share. The ex-dividend date is Thursday, March 20th. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.70%. Ferroglobe’s payout ratio is 250.00%.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.