Ferroglobe (NASDAQ:GSM) Stock: Insider Bruce Larmour Crockett Purchases 8,000 Shares

Ferroglobe PLC (NASDAQ:GSM) Director Bruce Larmour Crockett purchased 8,000 shares of Ferroglobe stock in a transaction dated Friday, November 6th. The stock was bought at an average price of $2.67 per share, with a total value of $21,360.00. Following the completion of the purchase, the director directly owned 54,000 shares of the company’s stock, valued at approximately $144,180. This trade represents a 17.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM traded down $0.05 during trading on Friday, hitting $3.00. The company’s stock had a trading volume of 2,320,003 shares, compared to its average volume of 1,733,057. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.34 and a quick ratio of 0.79. The firm has a market cap of $559.89 million, a price-to-earnings ratio of 18.75 and a beta of 1.21. The company has a 50-day moving average of $3.94 and a 200-day moving average of $4.13. Ferroglobe PLC has a 12 month low of $2.50 and a 12 month high of $5.66.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $369.76 million for the quarter, compared to the consensus estimate of $382.80 million. Ferroglobe had a net margin of 2.13% and a negative return on equity of 5.15%. On average, sell-side analysts expect that Ferroglobe PLC will post -0.05 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.0150 per share. This represents a $0.06 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is currently 37.50%.

Institutional Trading of Ferroglobe

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. bought a new stake in Ferroglobe in the second quarter worth $25,843,000. Royce & Associates LP boosted its stake in Ferroglobe by 45.4% during the third quarter. Royce & Associates LP now owns 2,781,127 shares of the basic materials company’s stock worth $11,055,000 after buying an additional 868,193 shares during the period. Russell Investments Group Ltd. increased its position in Ferroglobe by 2.0% during the third quarter. Russell Investments Group Ltd. now owns 1,154,691 shares of the basic materials company’s stock valued at $4,590,000 after acquiring an additional 22,873 shares during the last quarter. Orchard Capital Management LLC increased its position in Ferroglobe by 38.1% during the third quarter. Orchard Capital Management LLC now owns 953,083 shares of the basic materials company’s stock valued at $3,789,000 after acquiring an additional 263,083 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new position in Ferroglobe during the first quarter valued at $4,155,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Analyst Ratings Changes

GSM has been the topic of a number of research reports. Wall Street Zen upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Needham & Company LLC set a $5.00 price target on shares of Ferroglobe in a report on Friday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ferroglobe in a report on Monday, November 2nd. Finally, Jefferies Financial Group set a $5.00 price target on Ferroglobe in a research report on Friday, November 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ferroglobe has an average rating of “Reduce” and an average price target of $5.00.

Key Stories Impacting Ferroglobe

Investors following GSM have been watching these stories:

• Positive Sentiment: Four Ferroglobe directors and insiders bought a combined 80,842 shares on November 6 for about $212,000, increasing their reported holdings. Investors may interpret the purchases as a sign of confidence in the company. Insider purchase report
• Neutral Sentiment: The company declared a quarterly dividend of $0.015 per share, equivalent to $0.06 annually. This provides a modest income component but is unlikely to be a major near-term catalyst.
• Negative Sentiment: Ferroglobe’s latest reported quarter showed a loss of $0.06 per share, worse than the $0.04 loss analysts expected; revenue of $369.8 million also missed estimates of $382.8 million. The results underscore continued operating pressure.

About Ferroglobe

Ferroglobe plc produces silicon metal, silicon-based alloys and manganese-based alloys. Its products are used in industries including aluminum, steel, chemicals and energy. Silicon metal is an important input for aluminum alloys, silicones and polysilicon, while the company’s alloys are used in steelmaking and other metallurgical applications. Ferroglobe serves customers in markets around the world. The company was formed in 2015 through the merger of Globe Specialty Metals and Grupo FerroAtlántica.