Ferroglobe (NASDAQ:GSM) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings lowered shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. One equities 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Trading Up 3.1%

Shares of GSM stock opened at $4.63 on Friday. Ferroglobe has a 1-year low of $3.08 and a 1-year high of $5.74. The firm has a market cap of $864.10 million, a PE ratio of -21.05 and a beta of 1.02. The company has a 50-day moving average of $3.60 and a two-hundred day moving average of $4.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.06 annualized dividend and a yield of 1.3%. Ferroglobe’s dividend payout ratio is presently -27.27%.

Hedge Funds Weigh In On Ferroglobe

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in Ferroglobe by 22.0% during the 4th quarter. SG Americas Securities LLC now owns 14,509 shares of the basic materials company’s stock worth $67,000 after purchasing an additional 2,617 shares in the last quarter. Covestor Ltd raised its position in Ferroglobe by 23.2% in the 4th quarter. Covestor Ltd now owns 14,160 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 2,670 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Ferroglobe by 66.1% in 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 period. Price T Rowe Associates Inc. MD boosted its stake in shares of Ferroglobe by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 70,707 shares of the basic materials company’s stock valued at $329,000 after buying an additional 7,399 shares during the period. Finally, California State Teachers Retirement System acquired a new position in shares of Ferroglobe during the second quarter worth about $27,000. 89.64% of the stock is owned by institutional investors and hedge funds.

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.