Ferroglobe (NASDAQ:GSM) Trading Down 9.8% – What’s Next?
by Teresa Graham · The Cerbat GemFerroglobe PLC (NASDAQ:GSM – Get Free Report) dropped 9.8% during trading on Thursday . The company traded as low as $4.33 and last traded at $4.2650. Approximately 140,992 shares were traded during trading, a decline of 88% from the average daily volume of 1,219,320 shares. The stock had previously closed at $4.73.
Wall Street Analyst Weigh In
GSM has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.
Check Out Our Latest Stock Report on Ferroglobe
Ferroglobe Price Performance
The firm has a market capitalization of $739.04 million, a P/E ratio of -6.60 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.66. The business has a 50 day simple moving average of $4.48 and a two-hundred day simple moving average of $4.63.
Ferroglobe (NASDAQ:GSM – Get Free Report) last announced its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The business had revenue of $347.75 million during the quarter. Ferroglobe had a negative return on equity of 5.45% and a negative net margin of 8.09%. On average, sell-side analysts expect that Ferroglobe PLC will post 0.13 EPS for the current fiscal year.
Ferroglobe Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 22nd will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, June 22nd. Ferroglobe’s dividend payout ratio is currently -10.00%.
Insider Transactions at Ferroglobe
In other Ferroglobe news, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were acquired at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the purchase, the director directly owned 121,226 shares of the company’s stock, valued at $467,932.36. The trade was a 27.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Madrid Javier Lopez acquired 26,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the acquisition, the chairman owned 147,200 shares in the company, valued at $568,192. This represents a 21.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 13.07% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Ferroglobe
A number of large investors have recently modified their holdings of GSM. Millennium Management LLC raised its holdings in shares of Ferroglobe by 168.8% during 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 buying an additional 697,476 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Ferroglobe by 32.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after acquiring an additional 81,611 shares during the last quarter. Geode Capital Management LLC grew its position in Ferroglobe by 1,068.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock worth $5,719,000 after acquiring an additional 1,424,998 shares during the last quarter. Legal & General Group Plc grew its position in Ferroglobe by 48.6% during the 2nd quarter. Legal & General Group Plc now owns 129,244 shares of the basic materials company’s stock worth $474,000 after acquiring an additional 42,279 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Ferroglobe by 4,411.5% during the 2nd quarter. Rhumbline Advisers now owns 178,611 shares of the basic materials company’s stock worth $655,000 after acquiring an additional 174,652 shares during the last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.
Ferroglobe Company Profile
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.