Ferroglobe (NASDAQ:GSM) Sets New 1-Year Low – Here’s What Happened

Shares of Ferroglobe PLC (NASDAQ:GSM) hit a new 52-week low during trading on Thursday . The stock traded as low as $3.45 and last traded at $3.47, with a volume of 958488 shares traded. The stock had previously closed at $3.60.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GSM shares. StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Seaport Res Ptn lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday.

Ferroglobe Trading Down 4.4 %

The firm’s 50 day simple moving average is $3.89 and its two-hundred day simple moving average is $4.19. 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 stock has a market cap of $646.32 million, a P/E ratio of 172.00 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The business had revenue of $367.51 million during the quarter, compared to the consensus estimate of $393.00 million. As a group, equities research analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal 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 given a dividend of $0.014 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a yield of 1.63%. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is currently 250.00%.

Institutional Investors Weigh In On Ferroglobe

Several large investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new stake in shares of Ferroglobe in the 4th quarter worth about $37,000. Wexford Capital LP bought a new position in Ferroglobe in the 4th quarter worth about $552,000. State of Wyoming increased its stake in shares of Ferroglobe by 165.3% in the fourth quarter. State of Wyoming now owns 122,523 shares of the basic materials company’s stock valued at $466,000 after purchasing an additional 76,337 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Ferroglobe during the fourth quarter valued at approximately $592,000. Finally, Lloyd Harbor Capital Management LLC bought a new stake in shares of Ferroglobe during the fourth quarter valued at approximately $5,605,000. 89.64% of the stock is owned by institutional investors and hedge funds.

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.