Ferroglobe (NASDAQ:GSM) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a research report report published on Friday.

Ferroglobe Trading Down 4.0 %

NASDAQ:GSM opened at $3.49 on Friday. Ferroglobe has a 52 week low of $3.45 and a 52 week high of $6.19. The firm has a 50-day moving average price of $3.93 and a two-hundred day moving average price of $4.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83. The firm has a market cap of $654.76 million, a price-to-earnings ratio of 174.25 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a net margin of 0.32% and a return on equity of 6.24%. The company had revenue of $367.51 million for the quarter, compared to the consensus estimate of $393.00 million. On average, equities analysts expect that Ferroglobe will post 0.49 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.014 per share. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.61%. Ferroglobe’s dividend payout ratio is 250.00%.

Institutional Investors Weigh In On Ferroglobe

Several institutional investors have recently made changes to their positions in GSM. Barclays PLC purchased a new position in shares of Ferroglobe in the third quarter valued at $44,000. Heck Capital Advisors LLC bought a new position in Ferroglobe in the 4th quarter worth about $37,000. Raymond James Financial Inc. purchased a new position in Ferroglobe during the 4th quarter valued at about $42,000. LPL Financial LLC bought a new stake in shares of Ferroglobe during the fourth quarter valued at about $42,000. Finally, RPO LLC purchased a new stake in shares of Ferroglobe in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

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.