Ferroglobe (NASDAQ:GSM) Hits New 52-Week Low – Here’s Why

Shares of Ferroglobe PLC (NASDAQ:GSM) reached a new 52-week low on Thursday . The company traded as low as $3.52 and last traded at $3.5730, with a volume of 168694 shares traded. The stock had previously closed at $3.58.

Ferroglobe Stock Down 2.6%

The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $621.48 million, a P/E ratio of -5.55 and a beta of 1.00. The stock’s 50 day simple moving average is $4.14 and its 200 day simple moving average is $4.51.

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

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 22nd. Ferroglobe’s dividend payout ratio (DPR) is currently -10.00%.

Institutional Investors Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently made changes to their positions in GSM. California State Teachers Retirement System acquired a new position in Ferroglobe in the second quarter worth $27,000. Quadrant Capital Group LLC lifted its position in shares of Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after buying an additional 3,146 shares during the last quarter. Spire Wealth Management lifted its position in shares of Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after buying an additional 2,740 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of Ferroglobe in the 4th quarter valued at about $46,000. Finally, Irenic Capital Management LP acquired a new position in shares of Ferroglobe in the 4th quarter valued at about $46,000. 89.64% of the stock is owned by institutional investors and hedge funds.

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.