Ferroglobe PLC (GSM) to Issue Quarterly Dividend of $0.01 on December 29th

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Wednesday, November 5th. Investors of record on Monday, December 22nd will be paid a dividend of 0.014 per share by the basic materials company on Monday, December 29th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 22nd.

Ferroglobe has a dividend payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 8.5%.

Ferroglobe Price Performance

Shares of NASDAQ GSM opened at $4.67 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91. Ferroglobe has a 1-year low of $2.97 and a 1-year high of $5.74. The company has a market capitalization of $871.56 million, a price-to-earnings ratio of -6.31 and a beta of 1.13. The business has a 50-day moving average of $4.54 and a 200-day moving average of $4.35.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $311.70 million for the quarter, compared to analysts’ expectations of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. On average, equities analysts anticipate that Ferroglobe will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new stake in shares of Ferroglobe in the 1st quarter valued at approximately $38,000. Charles Schwab Investment Management Inc. boosted its holdings in Ferroglobe by 820.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 341,479 shares of the basic materials company’s stock worth $1,267,000 after purchasing an additional 304,381 shares during the period. Walleye Capital LLC increased its stake in Ferroglobe by 51.2% during the first quarter. Walleye Capital LLC now owns 792,401 shares of the basic materials company’s stock valued at $2,940,000 after purchasing an additional 268,456 shares during the last quarter. Old West Investment Management LLC raised its holdings in shares of Ferroglobe by 58.7% during the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company’s stock worth $12,747,000 after purchasing an additional 1,270,625 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Ferroglobe by 61.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 250,900 shares of the basic materials company’s stock worth $931,000 after purchasing an additional 95,100 shares during the period. Institutional investors own 89.64% of the company’s stock.

About Ferroglobe

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.