Ferroglobe (NASDAQ:GSM) Stock Price Down 5.7% – What’s Next?

Ferroglobe PLC (NASDAQ:GSM)’s share price dropped 5.7% during trading on Monday . The company traded as low as $3.84 and last traded at $3.8550. Approximately 1,108,969 shares were traded during trading, a decline of 14% from the average daily volume of 1,286,650 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ferroglobe currently has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. The firm’s 50 day moving average is $4.24 and its 200-day moving average is $4.56. The company has a market cap of $741.84 million, a PE ratio of -6.62 and a beta of 1.00.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The company had revenue of $347.75 million for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. On average, research analysts anticipate that Ferroglobe PLC will post -0.09 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 22nd will be paid a $0.015 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.5%. Ferroglobe’s dividend payout ratio (DPR) is -10.00%.

Insider Buying and Selling at Ferroglobe

In other news, Chairman Madrid Javier Lopez acquired 26,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of Ferroglobe stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the purchase, the director directly owned 121,226 shares of the company’s stock, valued at $467,932.36. This trade represents a 27.30% 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 Investors Weigh In On Ferroglobe

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in shares of Ferroglobe by 87.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company’s stock worth $22,606,000 after purchasing an additional 2,277,344 shares during the period. Ardsley Advisory Partners LP acquired a new stake in shares of Ferroglobe during the fourth quarter valued at about $9,837,000. Geode Capital Management LLC raised its stake in shares of Ferroglobe by 1,068.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock valued at $5,719,000 after acquiring an additional 1,424,998 shares during the period. Man Investment Partners US LP acquired a new position in shares of Ferroglobe in the 4th quarter worth approximately $6,021,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Ferroglobe in the 3rd quarter worth approximately $5,872,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

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.