Ferroglobe (NASDAQ:GSM) Director Bruce Larmour Crockett Purchases 8,000 Shares of Stock

Ferroglobe PLC (NASDAQ:GSM) Director Bruce Larmour Crockett purchased 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average cost of $2.67 per share, with a total value of $21,360.00. Following the completion of the purchase, the director owned 54,000 shares of the company’s stock, valued at $144,180. The trade was a 17.39% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Ferroglobe Trading Up 6.3%

NASDAQ GSM opened at $3.05 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 1.34. Ferroglobe PLC has a 1-year low of $2.50 and a 1-year high of $5.66. The business has a 50 day simple moving average of $3.97 and a two-hundred day simple moving average of $4.14.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $369.76 million for the quarter, compared to analysts’ expectations of $382.80 million. Ferroglobe had a negative return on equity of 5.15% and a net margin of 2.13%. On average, sell-side analysts anticipate that Ferroglobe PLC will post -0.05 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 22nd will be given a $0.0150 dividend. This represents a $0.06 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 22nd. Ferroglobe’s payout ratio is currently 37.50%.

Top Ferroglobe Stories

Investors following GSM have been watching these stories:

• Positive Sentiment: Four Ferroglobe directors and insiders bought a combined 80,842 shares on November 6 for about $212,000. The purchases increased each buyer’s reported holdings, which investors may view as a sign of confidence in the company. SEC filing SEC filing SEC filing SEC filing
• Positive Sentiment: Ferroglobe co-led a $30 million Series B financing for Coreshell Technologies, which is developing batteries using domestic critical materials. The investment could strengthen Ferroglobe’s strategic exposure to battery supply chains and U.S. materials demand, although the article does not specify the size of Ferroglobe’s investment. Coreshell Technologies financing announcement
• Negative Sentiment: Recent quarterly results were a counterweight: Ferroglobe reported a per-share loss that was worse than analysts expected, while revenue also fell short of consensus, highlighting ongoing operating challenges.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Ferroglobe in a report on Monday, November 2nd. Jefferies Financial Group set a $5.00 target price on shares of Ferroglobe in a research report on Friday, November 6th. Finally, Needham & Company LLC set a $5.00 target price on shares of Ferroglobe in a research report on Friday, November 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $5.00.

Hedge Funds Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PDT Partners LLC bought a new position in shares of Ferroglobe during the 2nd quarter valued at approximately $44,000. StoneX Group Inc. purchased a new stake in Ferroglobe during the 3rd quarter valued at $48,000. Abel Hall LLC bought a new stake in Ferroglobe in the third quarter worth $61,000. Covestor Ltd lifted its position in Ferroglobe by 28.4% in the third quarter. Covestor Ltd now owns 22,418 shares of the basic materials company’s stock worth $89,000 after buying an additional 4,952 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Ferroglobe during the first quarter worth $124,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe plc produces silicon metal, silicon-based alloys and manganese-based alloys. Its products are used in industries including aluminum, steel, chemicals and energy. Silicon metal is an important input for aluminum alloys, silicones and polysilicon, while the company’s alloys are used in steelmaking and other metallurgical applications. Ferroglobe serves customers in markets around the world. The company was formed in 2015 through the merger of Globe Specialty Metals and Grupo FerroAtlántica.