Ferroglobe (NASDAQ:GSM) Trading 3% Higher

Shares of Ferroglobe PLC (NASDAQ:GSM) traded up 3% on Wednesday . The stock traded as high as $5.23 and last traded at $5.20. 69,651 shares changed hands during trading, a decline of 96% from the average session volume of 1,565,259 shares. The stock had previously closed at $5.05.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th.

Ferroglobe Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32. The company has a market capitalization of $942.77 million, a price-to-earnings ratio of 10.94 and a beta of 2.01. The firm has a 50-day moving average price of $4.87 and a two-hundred day moving average price of $5.24.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. The company had revenue of $375.95 million during the quarter, compared to analysts’ expectations of $318.80 million. As a group, sell-side analysts anticipate that Ferroglobe PLC will post 0.26 earnings per share for the current fiscal year.

Ferroglobe Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were given a dividend of $0.013 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.05 annualized dividend and a yield of 1.03%. Ferroglobe’s dividend payout ratio (DPR) is presently 10.87%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Ferroglobe by 44,350.0% during the third quarter. Royal Bank of Canada now owns 5,334 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 5,322 shares during the last quarter. Osaic Holdings Inc. boosted its position in Ferroglobe by 38.1% during the second quarter. Osaic Holdings Inc. now owns 7,554 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 2,083 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Ferroglobe during the third quarter valued at approximately $47,000. Tower Research Capital LLC TRC boosted its position in Ferroglobe by 2,066.0% during the third quarter. Tower Research Capital LLC TRC now owns 9,097 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 8,677 shares during the last quarter. Finally, Covestor Ltd boosted its position in Ferroglobe by 12,965.3% during the third quarter. Covestor Ltd now owns 9,407 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 9,335 shares during the last quarter. 89.64% of the stock is owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.