Ferroglobe (NASDAQ:GSM) Trading Up 5.5% Following Insider Buying Activity

Shares of Ferroglobe PLC (NASDAQ:GSM) were up 5.5% on Thursday following insider buying activity. The stock traded as high as $4.57 and last traded at $4.4320. Approximately 257,728 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,315,898 shares. The stock had previously closed at $4.20.

Specifically, Chairman Madrid Javier Lopez acquired 26,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were bought at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the acquisition, the chairman owned 147,200 shares of the company’s stock, valued at approximately $568,192. This trade represents a 21.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of the stock in a transaction on Monday, March 23rd. The shares were acquired at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the purchase, the director owned 121,226 shares in the company, valued at $467,932.36. The trade was a 27.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Analysts Set New Price Targets

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

Ferroglobe Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.97. The stock has a 50 day simple moving average of $4.86 and a two-hundred day simple moving average of $4.67. The company has a market cap of $827.70 million, a price-to-earnings ratio of -4.82 and a beta of 0.93.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%.The business had revenue of $329.38 million during the quarter, compared to the consensus estimate of $293.60 million. On average, equities research analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 23rd will be issued a $0.015 dividend. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, March 23rd. Ferroglobe’s payout ratio is currently -6.52%.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently bought and sold shares of GSM. World Investment Advisors purchased a new position in Ferroglobe during the fourth quarter worth about $106,000. Invesco Ltd. grew its stake in shares of Ferroglobe by 18.7% in the 4th quarter. Invesco Ltd. now owns 299,341 shares of the basic materials company’s stock valued at $1,389,000 after buying an additional 47,127 shares during the period. Empowered Funds LLC increased its holdings in shares of Ferroglobe by 10.8% during the 4th quarter. Empowered Funds LLC now owns 817,763 shares of the basic materials company’s stock worth $3,794,000 after buying an additional 79,950 shares during the last quarter. Old West Investment Management LLC raised its position in shares of Ferroglobe by 17.3% during the 4th quarter. Old West Investment Management LLC now owns 3,798,781 shares of the basic materials company’s stock valued at $17,626,000 after buying an additional 560,867 shares during the period. Finally, Orion Resource Partners LP purchased a new stake in shares of Ferroglobe during the 4th quarter valued at approximately $858,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

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.