Ferroglobe (NASDAQ:GSM) Trading 3.5% Higher – Here’s Why

Ferroglobe PLC (NASDAQ:GSM) rose 3.5% on Friday . The company traded as high as $4.20 and last traded at $4.17. Approximately 65,654 shares traded hands during trading, a decline of 95% from the average daily volume of 1,356,470 shares. The stock had previously closed at $4.03.

Analyst Ratings Changes

Separately, StockNews.com upgraded Ferroglobe from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th.

Ferroglobe Price Performance

The firm has a market cap of $790.95 million, a price-to-earnings ratio of 17.54 and a beta of 1.88. The business has a 50 day simple moving average of $4.35 and a 200-day simple moving average of $4.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). The business had revenue of $433.53 million during the quarter, compared to the consensus estimate of $443.50 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. During the same period in the prior year, the company earned $0.27 earnings per share. Equities research analysts expect that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be issued a $0.013 dividend. This represents a $0.05 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, December 20th. Ferroglobe’s dividend payout ratio (DPR) is currently 20.83%.

Institutional Investors Weigh In On Ferroglobe

Several institutional investors have recently made changes to their positions in the stock. Hosking Partners LLP boosted its position in shares of Ferroglobe by 48.7% in the second quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock valued at $48,824,000 after acquiring an additional 2,981,907 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Ferroglobe by 15.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,621,112 shares of the basic materials company’s stock valued at $40,849,000 after purchasing an additional 1,003,918 shares in the last quarter. Old West Investment Management LLC increased its holdings in shares of Ferroglobe by 233.4% in the third quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock worth $17,439,000 after purchasing an additional 2,631,024 shares during the period. Bank of Montreal Can boosted its stake in Ferroglobe by 234.5% during the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock valued at $15,958,000 after buying an additional 2,442,507 shares during the period. Finally, Masters Capital Management LLC grew its position in Ferroglobe by 37.0% during the first quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company’s stock worth $15,687,000 after buying an additional 850,000 shares in the last quarter. Hedge funds and other institutional investors 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.