Ferroglobe (NASDAQ:GSM) Hits New 52-Week Low – Here’s What Happened

Shares of Ferroglobe PLC (NASDAQ:GSM) hit a new 52-week low on Wednesday . The stock traded as low as $3.08 and last traded at $3.1250, with a volume of 656603 shares trading hands. The stock had previously closed at $3.36.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Performance

The stock has a 50-day simple moving average of $3.67 and a 200-day simple moving average of $4.28. The company has a market capitalization of $599.08 million, a price-to-earnings ratio of -5.35 and a beta of 1.02. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The company had revenue of $347.75 million for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. On average, analysts anticipate that Ferroglobe PLC will post -0.14 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, June 22nd. Ferroglobe’s dividend payout ratio (DPR) is currently -10.00%.

Institutional Investors Weigh In On Ferroglobe

Institutional investors have recently modified their holdings of the stock. Empowered Funds LLC raised its stake in shares of Ferroglobe by 7.5% in the 1st quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company’s stock valued at $3,622,000 after purchasing an additional 61,474 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Ferroglobe by 10.1% in the first quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company’s stock worth $649,000 after purchasing an additional 14,422 shares in the last quarter. Sei Investments Co. grew its stake in Ferroglobe by 67.0% in the first quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company’s stock worth $2,634,000 after purchasing an additional 256,449 shares in the last quarter. Globeflex Capital L P bought a new stake in Ferroglobe in the first quarter valued at about $134,000. Finally, Bastion Asset Management Inc. bought a new stake in Ferroglobe in the first quarter valued at about $4,155,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

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.