Ferroglobe (NASDAQ:GSM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ferroglobe (NASDAQ:GSM) from a sell rating to a hold rating in a research report report published on Saturday morning.

GSM has been the subject of several other reports. B. Riley Financial decreased their price objective on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Trading Down 2.2%

Shares of NASDAQ:GSM opened at $4.92 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.97. Ferroglobe has a 1 year low of $2.97 and a 1 year high of $5.74. The company has a market cap of $918.22 million, a P/E ratio of -5.35 and a beta of 1.09. The stock’s fifty day moving average price is $4.93 and its 200-day moving average price is $4.61.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $329.38 million during the quarter, compared to analyst estimates of $293.60 million. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%. Sell-side analysts expect that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 23rd will be paid a dividend of $0.015 per share. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Monday, March 23rd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.2%. Ferroglobe’s dividend payout ratio is presently -6.52%.

Hedge Funds Weigh In On Ferroglobe

Several large investors have recently added to or reduced their stakes in GSM. California State Teachers Retirement System bought a new position in shares of Ferroglobe in the second quarter worth approximately $27,000. State of Alaska Department of Revenue purchased a new position in shares of Ferroglobe during the 3rd quarter valued at $32,000. Quadrant Capital Group LLC boosted its holdings in Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after buying an additional 3,146 shares during the period. BNP Paribas Financial Markets increased its stake in Ferroglobe by 1,017,300.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after buying an additional 10,173 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Ferroglobe during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.