Ferroglobe (NASDAQ:GSM) Hits New 12-Month Low – What’s Next?

Ferroglobe PLC (NASDAQ:GSM)’s share price hit a new 52-week low on Thursday . The stock traded as low as $3.45 and last traded at $3.47, with a volume of 958488 shares trading hands. The stock had previously closed at $3.60.

Analyst Ratings Changes

GSM has been the subject of several research reports. StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Seaport Res Ptn downgraded Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Monday.

Ferroglobe Stock Performance

The firm has a market capitalization of $646.32 million, a price-to-earnings ratio of 172.00 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. The firm’s fifty day moving average is $3.89 and its 200 day moving average is $4.19.

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

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 20th will be paid a $0.014 dividend. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.63%. Ferroglobe’s payout ratio is presently 250.00%.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSM. Old West Investment Management LLC grew its position in Ferroglobe by 158.0% in the third quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after acquiring an additional 1,781,024 shares in the last quarter. Barclays PLC bought a new stake in Ferroglobe in the third quarter worth $44,000. State Street Corp boosted its holdings in Ferroglobe by 1.6% in the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock worth $757,000 after purchasing an additional 2,615 shares in the last quarter. Point72 Asset Management L.P. increased its position in Ferroglobe by 1,180.4% during the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 368,300 shares during the last quarter. Finally, Maverick Capital Ltd. raised its holdings in Ferroglobe by 60.3% during the third quarter. Maverick Capital Ltd. now owns 369,540 shares of the basic materials company’s stock valued at $1,715,000 after buying an additional 139,002 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

About Ferroglobe

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.