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

Ferroglobe PLC (NASDAQ:GSM) shares hit a new 52-week low on Wednesday . The stock traded as low as $3.08 and last traded at $3.1250, with a volume of 656603 shares changing hands. The stock had previously closed at $3.36.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Stock Down 6.4%

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.43 and a quick ratio of 0.80. The stock has a 50 day moving average price of $3.70 and a 200-day moving average price of $4.30. The stock has a market capitalization of $586.95 million, a P/E ratio of -5.22 and a beta of 1.02.

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. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. The company had revenue of $347.75 million during the quarter. As a group, research analysts expect that Ferroglobe PLC will post -0.14 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 22nd were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.06 annualized dividend and a yield of 1.9%. Ferroglobe’s dividend payout ratio is presently -10.00%.

Hedge Funds Weigh In On Ferroglobe

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in shares of Ferroglobe during the second quarter worth about $27,000. Quadrant Capital Group LLC increased its holdings in Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 3,146 shares during the period. BNP Paribas Financial Markets increased its holdings in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 10,173 shares during the period. Spire Wealth Management raised its position in Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 2,740 shares during the last quarter. Finally, R Squared Ltd bought a new position in Ferroglobe during the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

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.