Ferroglobe (NASDAQ:GSM) Announces Earnings Results

Ferroglobe (NASDAQ:GSM) issued its quarterly earnings results on Tuesday. The basic materials company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07), FiscalAI reports. The company had revenue of $347.75 million during the quarter, compared to the consensus estimate of $341.50 million. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%.

Ferroglobe Trading Down 1.8%

GSM stock traded down $0.08 during midday trading on Wednesday, reaching $4.70. The company’s stock had a trading volume of 459,260 shares, compared to its average volume of 1,207,802. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.66. The stock has a fifty day simple moving average of $4.48 and a two-hundred day simple moving average of $4.63. Ferroglobe has a 1 year low of $3.04 and a 1 year high of $5.74. The firm has a market capitalization of $876.41 million, a price-to-earnings ratio of -5.14 and a beta of 1.03.

Ferroglobe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 23rd were given a $0.015 dividend. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, March 23rd. Ferroglobe’s dividend payout ratio is -6.52%.

Insider Activity

In related news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the stock in a transaction on Monday, March 23rd. The shares were acquired at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the transaction, the director owned 121,226 shares in the company, valued at approximately $467,932.36. This trade represents a 27.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Madrid Javier Lopez bought 26,000 shares of Ferroglobe stock in a transaction dated Monday, March 23rd. The shares were acquired at an average cost of $3.86 per share, with a total value of $100,360.00. Following the completion of the purchase, the chairman owned 147,200 shares in the company, valued at approximately $568,192. This trade represents a 21.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 13.07% of the stock is owned by insiders.

Institutional Trading of Ferroglobe

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new position in shares of Ferroglobe during the 2nd quarter worth $27,000. BNP Paribas Financial Markets grew its position in Ferroglobe by 1,017,300.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 10,173 shares in the last quarter. Quadrant Capital Group LLC grew its position in 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 acquiring an additional 3,146 shares in the last quarter. Prudential Financial Inc. acquired a new position in Ferroglobe in the 2nd quarter valued at about $51,000. Finally, Coldstream Capital Management Inc. acquired a new position in Ferroglobe in the 3rd quarter valued at about $52,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GSM shares. Wall Street Zen raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research raised shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a report on Thursday, January 22nd. One 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.com, Ferroglobe has a consensus rating of “Hold” and an average price target of $6.00.

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.