Ferroglobe (NASDAQ:GSM) Lowered to Hold Rating by Seaport Res Ptn

Seaport Res Ptn lowered shares of Ferroglobe (NASDAQ:GSM) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports. Seaport Res Ptn also issued estimates for Ferroglobe’s Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.01 EPS, FY2025 earnings at $0.15 EPS and FY2026 earnings at $0.55 EPS.

Separately, StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday.

Ferroglobe Stock Performance

GSM opened at $3.59 on Monday. The company has a market cap of $674.51 million, a price-to-earnings ratio of 179.50 and a beta of 1.83. Ferroglobe has a 52-week low of $3.45 and a 52-week high of $6.19. The firm’s fifty day simple moving average is $3.92 and its two-hundred day simple moving average is $4.21. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The company had revenue of $367.51 million for the quarter, compared to analyst estimates of $393.00 million. Equities analysts anticipate that Ferroglobe will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.014 per share. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, March 20th. Ferroglobe’s dividend payout ratio (DPR) is currently 250.00%.

Institutional Trading of Ferroglobe

A number of institutional investors and hedge funds have recently bought and sold shares of GSM. Donald Smith & CO. Inc. acquired a new position in shares of Ferroglobe in the third quarter worth $2,900,000. Old West Investment Management LLC increased its holdings in shares of Ferroglobe by 233.4% in the 3rd quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock valued at $17,439,000 after acquiring an additional 2,631,024 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Ferroglobe by 26.8% during the third quarter. GSA Capital Partners LLP now owns 114,691 shares of the basic materials company’s stock worth $532,000 after purchasing an additional 24,245 shares in the last quarter. Royce & Associates LP raised its stake in Ferroglobe by 3.6% during the 3rd quarter. Royce & Associates LP now owns 2,726,978 shares of the basic materials company’s stock worth $12,653,000 after acquiring an additional 94,260 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Ferroglobe by 234.5% in the 3rd quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock valued at $15,958,000 after purchasing an additional 2,442,507 shares during the period. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.