Ferroglobe PLC Plans Quarterly Dividend of $0.02 (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Tuesday, May 5th. Stockholders of record on Monday, June 22nd will be paid a dividend of 0.015 per share by the basic materials company on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, June 22nd.

Ferroglobe has a payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ferroglobe to earn $0.69 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 8.7%.

Ferroglobe Stock Up 0.3%

Shares of NASDAQ:GSM traded up $0.02 during trading on Wednesday, reaching $4.80. 1,541,979 shares of the stock were exchanged, compared to its average volume of 1,220,714. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.97. Ferroglobe has a 1-year low of $3.04 and a 1-year high of $5.74. The stock has a fifty day moving average of $4.48 and a two-hundred day moving average of $4.63. The firm has a market cap of $894.89 million, a price-to-earnings ratio of -5.21 and a beta of 1.03.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%.The firm had revenue of $347.75 million for the quarter. Research analysts anticipate that Ferroglobe will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ferroglobe currently has an average rating of “Hold” and a consensus price target of $6.00.

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.