Ferroglobe (NASDAQ:GSM) Trading Up 6.6% – What’s Next?

Ferroglobe PLC (NASDAQ:GSM)’s share price traded up 6.6% on Wednesday . The stock traded as high as $4.28 and last traded at $4.2960. 459,819 shares were traded during trading, a decline of 68% from the average session volume of 1,428,339 shares. The stock had previously closed at $4.03.

Wall Street Analysts Forecast Growth

GSM has been the subject of a number of recent research reports. Wall Street Zen downgraded Ferroglobe from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings lowered shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. 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 MarketBeat, Ferroglobe currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Performance

The firm has a market capitalization of $845.43 million, a price-to-earnings ratio of -20.59 and a beta of 1.00. The firm has a 50 day moving average price of $3.72 and a 200-day moving average price of $4.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74.

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.3%. Ferroglobe’s payout ratio is currently -27.27%.

Insider Buying and Selling at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $4.30, for a total transaction of $138,855.60. Following the sale, the insider directly owned 31,693 shares in the company, valued at approximately $136,279.90. This represents a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSM. Millennium Management LLC raised its holdings in shares of Ferroglobe by 168.8% in the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock valued at $4,121,000 after purchasing an additional 697,476 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 81,611 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ferroglobe by 1,068.3% in the second quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock valued at $5,719,000 after buying an additional 1,424,998 shares during the last quarter. Legal & General Group Plc increased its holdings in Ferroglobe by 48.6% in the second quarter. Legal & General Group Plc now owns 129,244 shares of the basic materials company’s stock valued at $474,000 after buying an additional 42,279 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Ferroglobe by 4,411.5% in the second quarter. Rhumbline Advisers now owns 178,611 shares of the basic materials company’s stock valued at $655,000 after buying an additional 174,652 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

About Ferroglobe

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.