Ferroglobe (NASDAQ:GSM) Shares Down 9.8% – What’s Next?

Ferroglobe PLC (NASDAQ:GSM) traded down 9.8% during mid-day trading on Thursday . The company traded as low as $4.33 and last traded at $4.2650. 140,992 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,219,320 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Stock Up 2.8%

The stock has a market cap of $759.58 million, a PE ratio of -6.78 and a beta of 1.03. The firm has a fifty day moving average of $4.46 and a 200 day moving average of $4.62. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 0.09.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) EPS for the quarter. The business had revenue of $347.75 million during the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. On average, equities research analysts anticipate that Ferroglobe PLC will post 0.13 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 22nd will be issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 22nd. Ferroglobe’s dividend payout ratio is -10.00%.

Insider Buying and Selling at Ferroglobe

In other Ferroglobe news, Chairman Madrid Javier Lopez bought 26,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the acquisition, the chairman directly owned 147,200 shares of the company’s stock, valued at $568,192. This represents a 21.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the acquisition, the director directly owned 121,226 shares of the company’s stock, valued at $467,932.36. The trade was a 27.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 13.07% of the company’s stock.

Hedge Funds Weigh In On Ferroglobe

Several large investors have recently bought and sold shares of the stock. Hosking Partners LLP boosted its stake in Ferroglobe by 3.1% in the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock valued at $52,040,000 after acquiring an additional 341,194 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Ferroglobe by 87.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock valued at $22,606,000 after acquiring an additional 2,277,344 shares in the last quarter. Old West Investment Management LLC boosted its stake in Ferroglobe by 17.3% in the fourth 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 acquiring an additional 560,867 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Ferroglobe by 13.3% in the third quarter. Ameriprise Financial Inc. now owns 2,141,909 shares of the basic materials company’s stock valued at $9,746,000 after acquiring an additional 250,982 shares in the last quarter. Finally, Ardsley Advisory Partners LP acquired a new position in Ferroglobe in the fourth quarter valued at $9,837,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

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.