Ferroglobe (NASDAQ:GSM) Shares Down 6.8% Following Insider Selling

Shares of Ferroglobe PLC (NASDAQ:GSM) traded down 6.8% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $3.77 and last traded at $3.7750. Approximately 204,133 shares traded hands during trading, a decline of 86% from the average session volume of 1,445,033 shares. The stock had previously closed at $4.05.

Specifically, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.30, for a total transaction of $138,855.60. Following the sale, the insider directly owned 31,693 shares of the company’s stock, valued at $136,279.90. This represents a 50.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GSM. Wall Street Zen lowered Ferroglobe from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings downgraded Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ferroglobe has a consensus rating of “Hold” and an average target price of $6.00.

Ferroglobe Stock Performance

The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $3.65 and its 200 day moving average is $4.19. The company has a market cap of $711.06 million, a PE ratio of -17.32 and a beta of 1.02.

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be given a $0.015 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.6%. Ferroglobe’s dividend payout ratio (DPR) is -27.27%.

Institutional Trading of Ferroglobe

A number of institutional investors and hedge funds have recently modified their holdings of GSM. California State Teachers Retirement System purchased a new position in Ferroglobe in the 2nd quarter valued at about $27,000. Quadrant Capital Group LLC increased its stake in Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after buying an additional 3,146 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after buying an additional 10,173 shares in the last quarter. R Squared Ltd acquired a new position in shares of Ferroglobe during the first quarter valued at approximately $44,000. Finally, PDT Partners LLC acquired a new position in shares of Ferroglobe during the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

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.