Ferroglobe (NASDAQ:GSM) Downgraded by StockNews.com

StockNews.com downgraded shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Ferroglobe Trading Up 0.7 %

NASDAQ:GSM opened at $5.38 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $4.88 and its 200-day moving average is $5.25. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 11.70 and a beta of 1.99. Ferroglobe has a 12 month low of $3.95 and a 12 month high of $6.78.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate 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%. Equities analysts anticipate 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. Shareholders of record on Friday, March 22nd were issued a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Thursday, March 21st. Ferroglobe’s dividend payout ratio (DPR) is currently 10.87%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Grizzlyrock Capital LLC acquired a new stake in shares of Ferroglobe in the fourth quarter worth $19,467,000. Hosking Partners LLP boosted its holdings in Ferroglobe by 29.8% in the 1st quarter. Hosking Partners LLP now owns 6,127,015 shares of the basic materials company’s stock valued at $30,513,000 after purchasing an additional 1,407,079 shares during the period. Tyro Capital Management LLC acquired a new stake in Ferroglobe in the 4th quarter worth $7,228,000. Orchard Capital Management LLC bought a new position in shares of Ferroglobe during the 4th quarter worth about $6,777,000. Finally, General American Investors Co. Inc. bought a new position in shares of Ferroglobe during the 3rd quarter worth about $4,829,000. 89.64% of the stock is owned by institutional investors.

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.