Ferroglobe (NASDAQ:GSM) Stock Price Down 5% - Here's Why

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) were down 5% during mid-day trading on Friday . The company traded as low as $3.89 and last traded at $3.87. Approximately 360,609 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,174,523 shares. The stock had previously closed at $4.07.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com downgraded Ferroglobe from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Seaport Res Ptn lowered Ferroglobe from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th.

Ferroglobe Trading Up 2.0 %

The stock has a market cap of $728.05 million, a PE ratio of 193.75 and a beta of 1.89. The company's fifty day moving average is $3.86 and its 200-day moving average is $4.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00.

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 for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $367.51 million for the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. On average, analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 20th will be given a dividend of $0.014 per share. This is a boost from Ferroglobe's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, March 20th. Ferroglobe's dividend payout ratio (DPR) is currently 250.00%.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently made changes to their positions in GSM. Old West Investment Management LLC lifted its stake in shares of Ferroglobe by 158.0% in the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company's stock valued at $13,495,000 after purchasing an additional 1,781,024 shares during the period. Barclays PLC acquired a new position in shares of Ferroglobe in the third quarter worth about $44,000. State Street Corp boosted its stake in shares of Ferroglobe by 1.6% during the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company's stock worth $757,000 after acquiring an additional 2,615 shares in the last quarter. Hosking Partners LLP boosted its stake in shares of Ferroglobe by 1.8% during the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company's stock worth $34,216,000 after acquiring an additional 159,845 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Ferroglobe by 1,180.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company's stock valued at $1,854,000 after acquiring an additional 368,300 shares during the period. Institutional investors and hedge funds own 89.64% of the company's stock.

Ferroglobe Company Profile

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.