Ferroglobe (NASDAQ:GSM) Trading Down 5.7% – Here’s Why

Ferroglobe PLC (NASDAQ:GSM)’s stock price fell 5.7% during trading on Monday . The company traded as low as $3.84 and last traded at $3.8550. 1,108,969 shares changed hands during trading, a decline of 14% from the average session volume of 1,286,650 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Trading Down 2.8%

The company’s 50 day simple moving average is $4.24 and its 200 day simple moving average is $4.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.43 and a quick ratio of 0.80. The firm has a market cap of $741.84 million, a price-to-earnings ratio of -6.62 and a beta of 1.00.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. The company had revenue of $347.75 million during the quarter. As a group, research analysts expect that Ferroglobe PLC will post -0.09 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, June 22nd. Ferroglobe’s dividend payout ratio (DPR) is -10.00%.

Insider Buying and Selling at Ferroglobe

In other news, Chairman Madrid Javier Lopez acquired 26,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $3.86 per share, with a total value of $100,360.00. Following the purchase, the chairman owned 147,200 shares of the company’s stock, valued at $568,192. This represents a 21.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $3.86 per share, with a total value of $100,360.00. Following the transaction, the director owned 121,226 shares in the company, valued at $467,932.36. The trade was a 27.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 13.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hosking Partners LLP raised its holdings in Ferroglobe by 3.1% during the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock worth $52,040,000 after purchasing an additional 341,194 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ferroglobe by 87.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock valued at $22,606,000 after purchasing an additional 2,277,344 shares in the last quarter. Old West Investment Management LLC boosted its holdings in Ferroglobe by 17.3% in the 4th quarter. Old West Investment Management LLC now owns 3,798,781 shares of the basic materials company’s stock valued at $17,626,000 after purchasing an additional 560,867 shares in the last quarter. Ameriprise Financial Inc. increased its position in Ferroglobe by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,141,909 shares of the basic materials company’s stock worth $9,746,000 after purchasing an additional 250,982 shares during the period. Finally, Ardsley Advisory Partners LP acquired a new position in Ferroglobe during the 4th quarter worth approximately $9,837,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

About Ferroglobe

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.