Seaport Res Ptn Downgrades Ferroglobe (NASDAQ:GSM) to Hold

Seaport Res Ptn cut shares of Ferroglobe (NASDAQ:GSM - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports. Seaport Res Ptn also issued estimates for Ferroglobe's Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at $0.00 EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at $0.02 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.17 EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at $0.28 EPS, FY2025 earnings at $0.15 EPS, FY2026 earnings at $0.55 EPS and FY2026 earnings at $0.64 EPS.

Separately, StockNews.com cut shares of Ferroglobe from a "buy" rating to a "hold" rating in a research note on Friday, February 21st.

Ferroglobe Stock Performance

NASDAQ:GSM traded down $0.01 during mid-day trading on Monday, reaching $3.43. The stock had a trading volume of 919,753 shares, compared to its average volume of 763,164. Ferroglobe has a twelve month low of $3.37 and a twelve month high of $6.19. The business has a 50 day simple moving average of $3.89 and a 200 day simple moving average of $4.19. The firm has a market capitalization of $644.45 million, a price-to-earnings ratio of 171.50 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82.

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Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The business had revenue of $367.51 million during the quarter, compared to analysts' expectations of $393.00 million. On average, analysts expect that Ferroglobe will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.014 per share. This is a positive change from Ferroglobe's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.63%. Ferroglobe's payout ratio is 250.00%.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds have recently bought and sold shares of the company. Barclays PLC purchased a new stake in Ferroglobe during the third quarter worth $44,000. Heck Capital Advisors LLC purchased a new stake in shares of Ferroglobe in the 4th quarter worth about $37,000. Raymond James Financial Inc. acquired a new stake in Ferroglobe in the 4th quarter valued at about $42,000. LPL Financial LLC acquired a new stake in Ferroglobe in the 4th quarter valued at about $42,000. Finally, RPO LLC purchased a new position in Ferroglobe during the 4th quarter valued at about $53,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.