Ferroglobe (NASDAQ:GSM) Lowered to Hold Rating by Seaport Res Ptn

Seaport Res Ptn cut shares of Ferroglobe (NASDAQ:GSM) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports. Seaport Res Ptn also issued estimates for Ferroglobe’s Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.01 EPS, FY2025 earnings at $0.15 EPS and FY2026 earnings at $0.55 EPS.

Separately, StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday.

Ferroglobe Trading Up 3.2 %

Shares of NASDAQ GSM opened at $3.59 on Monday. The company has a market cap of $674.51 million, a PE ratio of 179.50 and a beta of 1.83. Ferroglobe has a 52-week low of $3.45 and a 52-week high of $6.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The firm’s 50 day moving average price is $3.92 and its 200-day moving average price is $4.21.

Ferroglobe (NASDAQ:GSM) last posted 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. The business had revenue of $367.51 million during the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. On average, equities research analysts expect that Ferroglobe will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.014 per share. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.56%. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

Institutional Investors Weigh In On Ferroglobe

Hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. purchased a new stake in shares of Ferroglobe in the third quarter valued at $2,900,000. Old West Investment Management LLC boosted its stake in shares of Ferroglobe by 233.4% during the third quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock valued at $17,439,000 after purchasing an additional 2,631,024 shares in the last quarter. GSA Capital Partners LLP boosted its position in Ferroglobe by 26.8% during the third quarter. GSA Capital Partners LLP now owns 114,691 shares of the basic materials company’s stock valued at $532,000 after purchasing an additional 24,245 shares in the last quarter. Royce & Associates LP increased its position in shares of Ferroglobe by 3.6% during the third quarter. Royce & Associates LP now owns 2,726,978 shares of the basic materials company’s stock worth $12,653,000 after purchasing an additional 94,260 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Ferroglobe by 234.5% in the 3rd quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock valued at $15,958,000 after purchasing an additional 2,442,507 shares during the last quarter. Hedge funds and other 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.