Ferroglobe (NASDAQ:GSM) Shares Down 3.8% – Should You Sell?

Ferroglobe PLC (NASDAQ:GSM)’s share price traded down 3.8% during mid-day trading on Monday . The company traded as low as $4.39 and last traded at $4.3950. 227,744 shares traded hands during trading, a decline of 82% from the average session volume of 1,237,525 shares. The stock had previously closed at $4.57.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GSM. Zacks Research upgraded shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Stock Performance

The stock’s 50 day moving average price is $4.98 and its two-hundred day moving average price is $4.69. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $774.51 million, a price-to-earnings ratio of -4.52 and a beta of 0.93.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Tuesday, February 17th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. The firm had revenue of $329.38 million during the quarter, compared to analysts’ expectations of $293.60 million. On average, analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be paid a dividend of $0.015 per share. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. Ferroglobe’s dividend payout ratio is presently -6.52%.

Hedge Funds Weigh In On Ferroglobe

Hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its position in Ferroglobe by 14.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,968 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 2,494 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Ferroglobe by 22.0% in the fourth quarter. SG Americas Securities LLC now owns 14,509 shares of the basic materials company’s stock valued at $67,000 after buying an additional 2,617 shares in the last quarter. Covestor Ltd raised its stake in shares of Ferroglobe by 23.2% during the 4th quarter. Covestor Ltd now owns 14,160 shares of the basic materials company’s stock worth $66,000 after buying an additional 2,670 shares during the last quarter. Spire Wealth Management boosted its position in shares of Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after buying an additional 2,740 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after buying an additional 3,146 shares in the last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.