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

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $3.99 and last traded at $4.02, with a volume of 1633646 shares trading hands. The stock had previously closed at $4.08.

Ferroglobe Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.00. The company's 50-day moving average price is $4.35 and its two-hundred day moving average price is $4.76. The company has a market capitalization of $753.48 million, a price-to-earnings ratio of 16.88 and a beta of 1.86.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). Ferroglobe had a return on equity of 7.55% and a net margin of 2.74%. The firm had revenue of $433.53 million for the quarter, compared to analysts' expectations of $443.50 million. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate that Ferroglobe PLC will post 0.28 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be given a dividend of $0.013 per share. The ex-dividend date is Friday, December 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.29%. Ferroglobe's payout ratio is 20.83%.

Institutional Investors Weigh In On Ferroglobe

A number of large investors have recently made changes to their positions in the business. Old West Investment Management LLC lifted its stake in shares of Ferroglobe by 158.0% in the third quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company's stock worth $13,495,000 after buying an additional 1,781,024 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in Ferroglobe in the 2nd quarter worth $1,236,000. Point72 Asset Management L.P. grew its holdings in shares of Ferroglobe by 1,180.4% in the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company's stock valued at $1,854,000 after purchasing an additional 368,300 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in Ferroglobe during the third quarter worth approximately $2,900,000. Finally, Bank of Montreal Can increased its position in Ferroglobe by 234.5% during the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company's stock valued at $15,958,000 after acquiring an additional 2,442,507 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.