Ferroglobe (NASDAQ:GSM) Shares Down 5% – Here’s Why

Ferroglobe PLC (NASDAQ:GSM) traded down 5% during mid-day trading on Friday . The stock traded as low as $3.89 and last traded at $3.87. 360,609 shares changed hands during trading, a decline of 69% from the average session volume of 1,174,523 shares. The stock had previously closed at $4.07.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seaport Res Ptn downgraded Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th.

Ferroglobe Trading Down 6.1 %

The company has a market cap of $717.72 million, a PE ratio of 191.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The company has a 50 day simple moving average of $3.87 and a two-hundred day simple moving average of $4.12.

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

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be issued a $0.014 dividend. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.47%. Ferroglobe’s dividend payout ratio is currently 250.00%.

Hedge Funds Weigh In On Ferroglobe

A number of large investors have recently made changes to their positions in GSM. Heck Capital Advisors LLC acquired a new position in Ferroglobe in the fourth quarter worth approximately $37,000. Raymond James Financial Inc. acquired a new position in Ferroglobe in the fourth quarter worth approximately $42,000. LPL Financial LLC acquired a new position in Ferroglobe in the fourth quarter worth approximately $42,000. Barclays PLC acquired a new position in Ferroglobe in the third quarter worth approximately $44,000. Finally, RPO LLC acquired a new position in Ferroglobe in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds 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.