Ferroglobe (NASDAQ:GSM) Trading Up 3.5% - Here's What Happened

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) shares traded up 3.5% on Friday . The company traded as high as $4.20 and last traded at $4.17. 65,654 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,356,470 shares. The stock had previously closed at $4.03.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ferroglobe from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th.

Ferroglobe Stock Up 5.0 %

The firm has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $4.98. The firm has a market capitalization of $792.83 million, a price-to-earnings ratio of 17.63 and a beta of 1.88. The company has a current ratio of 1.83, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02.

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

Ferroglobe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be paid a $0.013 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.23%. Ferroglobe's dividend payout ratio (DPR) is currently 20.83%.

Institutional Trading of Ferroglobe

Hedge funds have recently made changes to their positions in the company. Hosking Partners LLP grew its position in shares of Ferroglobe by 48.7% during the second quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company's stock worth $48,824,000 after buying an additional 2,981,907 shares in the last quarter. Old West Investment Management LLC grew its holdings in Ferroglobe by 233.4% during the 3rd quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company's stock worth $17,439,000 after acquiring an additional 2,631,024 shares in the last quarter. Bank of Montreal Can increased its position in shares of Ferroglobe by 234.5% in the 3rd quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company's stock worth $15,958,000 after purchasing an additional 2,442,507 shares during the last quarter. Thomist Capital Management LP raised its stake in shares of Ferroglobe by 159.3% in the 2nd quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company's stock valued at $18,031,000 after purchasing an additional 1,924,879 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Ferroglobe by 15.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,621,112 shares of the basic materials company's stock worth $40,849,000 after purchasing an additional 1,003,918 shares during the last quarter. 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.