Stock Traders Purchase High Volume of Put Options on Ferroglobe (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 8,391 put options on the company. This represents an increase of 265% compared to the typical volume of 2,301 put options.

Ferroglobe Price Performance

Shares of NASDAQ GSM remained flat at $5.01 during trading on Tuesday. 388,302 shares of the stock were exchanged, compared to its average volume of 1,529,937. The firm’s 50-day moving average price is $4.86 and its 200 day moving average price is $5.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32. The stock has a market capitalization of $939.02 million, a PE ratio of 10.89 and a beta of 2.01. Ferroglobe has a 12-month low of $3.95 and a 12-month high of $6.78.

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

Ferroglobe Cuts Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th.

Hedge Funds Weigh In On Ferroglobe

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund purchased a new position in shares of Ferroglobe in the third quarter worth approximately $47,000. Covestor Ltd lifted its holdings in Ferroglobe by 12,965.3% during the third quarter. Covestor Ltd now owns 9,407 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 9,335 shares in the last quarter. Mutual Advisors LLC purchased a new position in Ferroglobe during the third quarter valued at approximately $52,000. Banco Santander S.A. purchased a new position in Ferroglobe during the third quarter valued at approximately $77,000. Finally, Fox Run Management L.L.C. purchased a new position in Ferroglobe during the third quarter valued at approximately $79,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.