Ferroglobe (NASDAQ:GSM) Chairman Madrid Javier Lopez Buys 26,000 Shares

Ferroglobe PLC (NASDAQ:GSM) Chairman Madrid Javier Lopez acquired 26,000 shares of Ferroglobe stock in a transaction on Monday, March 23rd. The stock was purchased at an average cost of $3.86 per share, with a total value of $100,360.00. Following the completion of the transaction, the chairman directly owned 147,200 shares in the company, valued at $568,192. This represents a 21.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ferroglobe Price Performance

Ferroglobe stock opened at $4.20 on Thursday. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $5.74. The company’s 50 day moving average price is $4.86 and its two-hundred day moving average price is $4.67. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The stock has a market cap of $783.85 million, a P/E ratio of -4.57 and a beta of 0.93.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company 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%. On average, equities analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 23rd will be given a $0.015 dividend. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 23rd. Ferroglobe’s payout ratio is presently -6.52%.

Hedge Funds Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in Ferroglobe in the third quarter worth $32,000. California State Teachers Retirement System purchased a new position in shares of Ferroglobe during the 2nd quarter valued at $27,000. Quadrant Capital Group LLC lifted its position in shares of Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock valued at $37,000 after buying an additional 3,146 shares during the last quarter. Spire Wealth Management grew its stake in shares of Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 2,740 shares during the period. Finally, Highland Capital Management LLC bought a new position in shares of Ferroglobe during the 4th quarter worth $46,000. 89.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GSM shares. Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One equities research 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.00.

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.