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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a 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 Trading Down 6.1 %

The company has a market cap of $717.72 million, a price-to-earnings ratio of 191.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. The firm’s fifty day moving average price is $3.87 and its 200-day moving average price is $4.12.

Ferroglobe (NASDAQ:GSM) last issued 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 for the quarter, compared to analysts’ expectations of $393.00 million. On average, equities analysts expect that Ferroglobe PLC will post 0.33 EPS 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 paid a dividend of $0.014 per share. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, March 20th. Ferroglobe’s payout ratio is currently 250.00%.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently modified their holdings of GSM. Heck Capital Advisors LLC bought a new stake in Ferroglobe in the fourth quarter worth about $37,000. Wexford Capital LP bought a new stake in Ferroglobe in the fourth quarter worth about $552,000. State of Wyoming raised its position in Ferroglobe by 165.3% in the fourth quarter. State of Wyoming now owns 122,523 shares of the basic materials company’s stock worth $466,000 after acquiring an additional 76,337 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Ferroglobe in the fourth quarter worth about $592,000. Finally, Lloyd Harbor Capital Management LLC bought a new stake in Ferroglobe in the fourth quarter worth about $5,605,000. 89.64% of the stock is currently owned by institutional investors.

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.