Ferroglobe (NASDAQ:GSM) Chairman Madrid Javier Lopez Purchases 28,671 Shares of Company Stock

Ferroglobe PLC (NASDAQ:GSM) Chairman Madrid Javier Lopez bought 28,671 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average price of $2.62 per share, for a total transaction of $75,118.02. Following the transaction, the chairman owned 128,399 shares in the company, valued at $336,405.38. This trade represents a 28.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ferroglobe Trading Up 4.0%

NASDAQ GSM opened at $2.87 on Thursday. The firm has a market cap of $535.62 million, a PE ratio of 17.94 and a beta of 1.21. Ferroglobe PLC has a 1-year low of $2.50 and a 1-year high of $5.66. The stock has a 50-day moving average of $4.00 and a 200-day moving average of $4.15. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.

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

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 22nd will be paid a $0.0150 dividend. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.06 annualized dividend and a dividend yield of 2.1%. Ferroglobe’s dividend payout ratio (DPR) is presently 37.50%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Ferroglobe

Several large investors have recently modified their holdings of GSM. Bastion Asset Management Inc. bought a new stake in shares of Ferroglobe during the first quarter valued at approximately $4,155,000. Donald Smith & CO. Inc. purchased a new stake in shares of Ferroglobe during the 2nd quarter valued at about $25,843,000. Sei Investments Co. grew its stake in shares of 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 acquiring an additional 256,449 shares during the period. SummerHaven Investment Management LLC purchased a new position in shares of Ferroglobe during the third quarter valued at approximately $530,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Ferroglobe during the second quarter valued at approximately $544,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.