Ferroglobe PLC (NASDAQ:GSM) Declares Quarterly Dividend of $0.01

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Investors of record on Thursday, March 20th will be given a dividend of 0.014 per share by the basic materials company on Wednesday, March 26th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 7.7% increase from Ferroglobe’s previous quarterly dividend of $0.01.

Ferroglobe has a dividend payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 10.2%.

Ferroglobe Stock Performance

GSM opened at $4.04 on Tuesday. The stock’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $4.12. The stock has a market cap of $759.06 million, a P/E ratio of 202.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. Ferroglobe has a 1-year low of $3.23 and a 1-year high of $6.19.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $367.51 million for the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. As a group, equities analysts anticipate that Ferroglobe will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on GSM. StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seaport Res Ptn lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

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.