Ferroglobe (NASDAQ:GSM) Hits New 12-Month Low - What's Next?

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) shares reached a new 52-week low during trading on Friday . The company traded as low as $3.19 and last traded at $3.33, with a volume of 812285 shares traded. The stock had previously closed at $3.44.

Analyst Ratings Changes

GSM has been the topic of a number of analyst reports. StockNews.com lowered Ferroglobe from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Seaport Res Ptn cut Ferroglobe from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th.

Ferroglobe Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $625.66 million, a price-to-earnings ratio of 166.50 and a beta of 1.58. The stock's fifty day moving average is $3.75 and its 200-day moving average is $4.06.

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

Ferroglobe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were issued a $0.014 dividend. This is an increase from Ferroglobe's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, March 20th. Ferroglobe's dividend payout ratio is 250.00%.

Hedge Funds Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC lifted its stake in Ferroglobe by 78.1% in the third quarter. HighTower Advisors LLC now owns 28,103 shares of the basic materials company's stock valued at $131,000 after buying an additional 12,326 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Ferroglobe by 1,180.4% during the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company's stock worth $1,854,000 after buying an additional 368,300 shares during the period. State Street Corp grew its holdings in shares of Ferroglobe by 1.6% during the third quarter. State Street Corp now owns 163,238 shares of the basic materials company's stock worth $757,000 after buying an additional 2,615 shares in the last quarter. XTX Topco Ltd acquired a new stake in Ferroglobe in the 3rd quarter valued at approximately $150,000. Finally, Orion Portfolio Solutions LLC bought a new stake in Ferroglobe in the 3rd quarter valued at approximately $99,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

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.