Ferroglobe (NASDAQ:GSM) Hits New 12-Month Low - Here's Why

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.45 and last traded at $3.47, with a volume of 958488 shares traded. The stock had previously closed at $3.60.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GSM. StockNews.com cut Ferroglobe from a "buy" rating to a "hold" rating in a 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 Trading Down 1.7 %

The business has a fifty day moving average of $3.87 and a 200-day moving average of $4.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The company has a market capitalization of $633.17 million, a P/E ratio of 168.50 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share 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 for the quarter, compared to analysts' expectations of $393.00 million. Analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

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Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.014 per share. The ex-dividend date is Thursday, March 20th. This is a boost from Ferroglobe's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.66%. Ferroglobe's dividend payout ratio (DPR) is 250.00%.

Hedge Funds Weigh In On Ferroglobe

Several large investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in Ferroglobe by 1.6% during the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company's stock valued at $757,000 after acquiring an additional 2,615 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ferroglobe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock valued at $857,000 after purchasing an additional 2,760 shares during the last quarter. West Tower Group LLC increased its position in shares of Ferroglobe by 3.8% during the 3rd quarter. West Tower Group LLC now owns 137,291 shares of the basic materials company's stock valued at $637,000 after purchasing an additional 5,000 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Ferroglobe by 48.9% during the 4th quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 7,271 shares during the last quarter. Finally, Qtron Investments LLC increased its position in shares of Ferroglobe by 49.7% during the 4th quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company's stock valued at $85,000 after purchasing an additional 7,396 shares during the last quarter. 89.64% of the stock is currently owned by 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.