Insider Buying: Ferroglobe (NASDAQ:GSM) Director Buys $100,360.00 in Stock

Ferroglobe PLC (NASDAQ:GSM) Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average cost of $3.86 per share, with a total value of $100,360.00. Following the completion of the transaction, the director directly owned 121,226 shares in the company, valued at $467,932.36. The trade was a 27.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ferroglobe Price Performance

Shares of NASDAQ:GSM opened at $4.30 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07. The stock has a market cap of $802.51 million, a PE ratio of -4.67 and a beta of 0.93. The stock’s fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $4.67. Ferroglobe PLC has a 1-year low of $2.97 and a 1-year high of $5.74.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, February 18th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $329.38 million during the quarter, compared to analyst estimates of $293.60 million. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. As a group, analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The company 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 represents a $0.06 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 23rd. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is currently -6.52%.

Hedge Funds Weigh In On Ferroglobe

Institutional investors have recently added to or reduced their stakes in the stock. Lombard Odier Asset Management USA Corp purchased a new position in Ferroglobe in the second quarter valued at about $1,833,000. Donald Smith & CO. Inc. increased its stake in shares of Ferroglobe by 19.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock worth $28,667,000 after purchasing an additional 1,288,610 shares during the last quarter. Ardsley Advisory Partners LP raised its holdings in shares of Ferroglobe by 11.4% in the 2nd quarter. Ardsley Advisory Partners LP now owns 2,007,595 shares of the basic materials company’s stock worth $7,368,000 after purchasing an additional 205,000 shares during the period. ProShare Advisors LLC bought a new stake in shares of Ferroglobe in the 2nd quarter worth approximately $90,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in Ferroglobe in the second quarter valued at approximately $105,000. Institutional investors own 89.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GSM has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. 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’s stock. According to MarketBeat.com, Ferroglobe presently has an average rating of “Hold” and a consensus 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.