Ferroglobe (NASDAQ:GSM) Sees Unusually-High Trading Volume – Here’s What Happened

Ferroglobe PLC (NASDAQ:GSM) saw unusually-high trading volume on Wednesday . 4,336,073 shares traded hands during trading, an increase of 219% from the previous session’s volume of 1,358,947 shares.The stock last traded at $3.3350 and had previously closed at $3.44.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ferroglobe has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Performance

The stock’s fifty day moving average is $3.97 and its two-hundred day moving average is $4.45. The firm has a market capitalization of $620.92 million, a price-to-earnings ratio of -5.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. The business had revenue of $347.75 million for the quarter. Analysts forecast that Ferroglobe PLC will post -0.14 earnings per share for the current year.

Ferroglobe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 22nd were paid 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 was Monday, June 22nd. Ferroglobe’s dividend payout ratio (DPR) is -10.00%.

Hedge Funds Weigh In On Ferroglobe

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC grew its position in shares of Ferroglobe by 7.5% during the first quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company’s stock worth $3,622,000 after buying an additional 61,474 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Ferroglobe by 10.1% in the first quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company’s stock valued at $649,000 after acquiring an additional 14,422 shares in the last quarter. Sei Investments Co. boosted its stake in Ferroglobe by 67.0% during the 1st quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company’s stock valued at $2,634,000 after acquiring an additional 256,449 shares during the last quarter. Globeflex Capital L P bought a new position in Ferroglobe during the 1st quarter valued at $134,000. Finally, Bastion Asset Management Inc. acquired a new position in Ferroglobe during the 1st quarter worth $4,155,000. 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.