Ferroglobe (NASDAQ:GSM) Stock Price Down 8.5% - Here's Why

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) fell 8.5% on Monday . The company traded as low as $3.09 and last traded at $3.07. 2,504,545 shares traded hands during trading, an increase of 109% from the average session volume of 1,197,254 shares. The stock had previously closed at $3.35.

Analyst Ratings Changes

Several research analysts have commented on GSM shares. StockNews.com cut shares of Ferroglobe from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Seaport Res Ptn downgraded shares of Ferroglobe from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th.

Ferroglobe Price Performance

The company has a market capitalization of $621.90 million, a PE ratio of 165.50 and a beta of 1.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. The company's 50 day simple moving average is $3.70 and its 200 day simple moving average is $4.03.

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

Ferroglobe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were given a dividend of $0.014 per share. This is an increase from Ferroglobe's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, March 20th. Ferroglobe's dividend payout ratio (DPR) is presently 250.00%.

Hedge Funds Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC acquired a new stake in Ferroglobe during the 3rd quarter worth approximately $44,000. Heck Capital Advisors LLC acquired a new stake in shares of Ferroglobe during the fourth quarter worth $37,000. Raymond James Financial Inc. purchased a new position in Ferroglobe in the 4th quarter valued at $42,000. LPL Financial LLC acquired a new position in Ferroglobe in the 4th quarter valued at $42,000. Finally, RPO LLC purchased a new position in Ferroglobe during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

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.