Ferroglobe (NASDAQ:GSM) Reaches New 12-Month Low – Here’s Why

Ferroglobe PLC (NASDAQ:GSM)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.52 and last traded at $3.5730, with a volume of 168694 shares changing hands. The stock had previously closed at $3.58.

Ferroglobe Price Performance

The stock has a market cap of $637.34 million, a P/E ratio of -5.69 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $4.18 and its two-hundred day simple moving average is $4.53.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) EPS for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. The business had revenue of $347.75 million for the quarter. Sell-side analysts expect that Ferroglobe PLC will post -0.09 EPS for the current year.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 22nd will be paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 22nd. Ferroglobe’s payout ratio is presently -10.00%.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently bought and sold shares of the company. Hosking Partners LLP increased its holdings in shares of Ferroglobe by 3.1% in the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock worth $52,040,000 after purchasing an additional 341,194 shares during the period. CenterBook Partners LP boosted its stake in Ferroglobe by 59.1% during the fourth quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company’s stock valued at $6,840,000 after buying an additional 547,847 shares during the period. West Tower Group LLC purchased a new position in Ferroglobe during the fourth quarter worth about $581,000. Man Investment Partners US LP purchased a new position in Ferroglobe during the fourth quarter worth about $6,021,000. Finally, Unison Advisors LLC bought a new position in Ferroglobe in the 4th quarter worth about $724,000. 89.64% of the stock is currently 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.