Ferroglobe (NASDAQ:GSM) Upgraded at StockNews.com

StockNews.com upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a research report report published on Tuesday.

Ferroglobe Stock Up 0.8 %

Ferroglobe stock opened at $4.98 on Tuesday. Ferroglobe has a twelve month low of $3.95 and a twelve month high of $6.78. The firm has a 50 day moving average price of $4.91 and a 200-day moving average price of $5.26. The company has a market capitalization of $933.40 million, a P/E ratio of 10.83 and a beta of 2.00. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.22.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $375.95 million for the quarter, compared to analysts’ expectations of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. As a group, equities analysts predict that Ferroglobe will post 0.26 EPS for the current year.

Ferroglobe Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were issued a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, March 21st. Ferroglobe’s dividend payout ratio is currently 10.87%.

Hedge Funds Weigh In On Ferroglobe

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Ferroglobe by 96.8% in the 1st quarter. BlackRock Inc. now owns 188,581 shares of the basic materials company’s stock worth $1,452,000 after purchasing an additional 92,757 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Ferroglobe by 49.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 181,863 shares of the basic materials company’s stock worth $1,400,000 after acquiring an additional 60,002 shares during the period. UBS Group AG grew its position in Ferroglobe by 1,187.9% during the first quarter. UBS Group AG now owns 33,627 shares of the basic materials company’s stock valued at $259,000 after buying an additional 31,016 shares during the period. Engineers Gate Manager LP bought a new stake in Ferroglobe during the first quarter valued at approximately $598,000. Finally, State Street Corp grew its position in Ferroglobe by 4.6% during the first quarter. State Street Corp now owns 33,691 shares of the basic materials company’s stock valued at $259,000 after buying an additional 1,477 shares during the period. Institutional investors own 89.64% of the company’s stock.

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.