Ferroglobe (NASDAQ:GSM) Director De Fuentes Silvia Villar-Mir Acquires 28,671 Shares of Stock

Ferroglobe PLC (NASDAQ:GSM) Director De Fuentes Silvia Villar-Mir bought 28,671 shares of Ferroglobe stock in a transaction dated Friday, November 6th. The stock was purchased at an average cost of $2.62 per share, for a total transaction of $75,118.02. Following the completion of the acquisition, the director directly owned 128,399 shares of the company’s stock, valued at approximately $336,405.38. The trade was a 28.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ferroglobe Stock Up 6.3%

GSM stock opened at $3.05 on Friday. The firm has a fifty day moving average price of $3.97 and a 200 day moving average price of $4.14. Ferroglobe PLC has a fifty-two week low of $2.50 and a fifty-two week high of $5.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.34 and a quick ratio of 0.79.

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

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 22nd will be paid a dividend of $0.0150 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 22nd. Ferroglobe’s payout ratio is currently 37.50%.

Latest Ferroglobe News

These are some of the GSM news items that stood out recently:

• Positive Sentiment: Four Ferroglobe directors and insiders bought a combined 80,842 shares on November 6 for about $212,000. The purchases increased each buyer’s reported holdings, which investors may view as a sign of confidence in the company. SEC filing SEC filing SEC filing SEC filing
• Positive Sentiment: Ferroglobe co-led a $30 million Series B financing for Coreshell Technologies, which is developing batteries using domestic critical materials. The investment could strengthen Ferroglobe’s strategic exposure to battery supply chains and U.S. materials demand, although the article does not specify the size of Ferroglobe’s investment. Coreshell Technologies financing announcement
• Negative Sentiment: Recent quarterly results were a counterweight: Ferroglobe reported a per-share loss that was worse than analysts expected, while revenue also fell short of consensus, highlighting ongoing operating challenges.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. purchased a new position in shares of Ferroglobe during the second quarter valued at $25,843,000. Royce & Associates LP lifted its stake in Ferroglobe by 45.4% in the third quarter. Royce & Associates LP now owns 2,781,127 shares of the basic materials company’s stock worth $11,055,000 after acquiring an additional 868,193 shares during the period. Russell Investments Group Ltd. lifted its stake in Ferroglobe by 2.0% in the third quarter. Russell Investments Group Ltd. now owns 1,154,691 shares of the basic materials company’s stock worth $4,590,000 after acquiring an additional 22,873 shares during the period. Bastion Asset Management Inc. purchased a new stake in Ferroglobe in the first quarter worth about $4,155,000. Finally, Empowered Funds LLC grew its holdings in Ferroglobe by 7.5% during the 1st quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company’s stock worth $3,622,000 after acquiring an additional 61,474 shares in the last quarter. 89.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.