Insider Buying: Ferroglobe (NASDAQ:GSM) Chairman Acquires $100,360.00 in Stock

Ferroglobe PLC (NASDAQ:GSM) Chairman Madrid Javier Lopez purchased 26,000 shares of Ferroglobe stock in a transaction dated 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 purchase, the chairman owned 147,200 shares in the company, valued at approximately $568,192. This trade represents a 21.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ferroglobe Price Performance

Shares of Ferroglobe stock traded up $0.10 on Wednesday, hitting $4.20. The company had a trading volume of 1,069,317 shares, compared to its average volume of 1,332,900. Ferroglobe PLC has a 52 week low of $2.97 and a 52 week high of $5.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.97. The company has a market cap of $783.83 million, a PE ratio of -4.57 and a beta of 0.93. The business has a 50-day simple moving average of $4.88 and a 200-day simple moving average of $4.68.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $329.38 million for the quarter, compared to analysts’ expectations of $293.60 million. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%. Research analysts expect 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. Stockholders of record on Monday, March 23rd will be paid a $0.015 dividend. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio (DPR) is presently -6.52%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp bought a new stake in shares of Ferroglobe during the 2nd quarter worth $1,833,000. Donald Smith & CO. Inc. grew its holdings in shares of Ferroglobe by 19.8% in 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 acquiring an additional 1,288,610 shares during the last quarter. Ardsley Advisory Partners LP raised its position in shares of Ferroglobe by 11.4% during the second 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 purchased a new stake in shares of Ferroglobe during the second quarter valued at $90,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Ferroglobe during the second quarter valued at $105,000. Institutional investors own 89.64% of the company’s stock.

Analyst Upgrades and Downgrades

GSM has been the subject of several research reports. Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One 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 stock. Based on data from MarketBeat.com, the company currently has an average 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.