Ferroglobe (NASDAQ:GSM) Shares Down 5% – Here’s What Happened

Ferroglobe PLC (NASDAQ:GSM)’s stock price traded down 5% during mid-day trading on Friday . The company traded as low as $3.89 and last traded at $3.87. 360,609 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,174,523 shares. The stock had previously closed at $4.07.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GSM shares. Seaport Res Ptn lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st.

Ferroglobe Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $3.87 and a 200 day moving average of $4.12. The firm has a market cap of $728.05 million, a P/E ratio of 193.25 and a beta of 1.89.

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

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be given a dividend of $0.014 per share. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. This represents a $0.06 annualized dividend and a yield of 1.45%. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors have recently modified their holdings of GSM. Old West Investment Management LLC raised its stake in Ferroglobe by 158.0% in the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after purchasing an additional 1,781,024 shares in the last quarter. Barclays PLC acquired a new stake in shares of Ferroglobe in the third quarter valued at approximately $44,000. State Street Corp boosted its stake in shares of Ferroglobe by 1.6% in the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock valued at $757,000 after buying an additional 2,615 shares during the period. Hosking Partners LLP grew its position in Ferroglobe by 1.8% during the fourth quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after buying an additional 159,845 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Ferroglobe by 1,180.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 368,300 shares during the period. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.