Ferroglobe (NASDAQ:GSM) Shares Up 4.5% - Should You Buy?

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) rose 4.5% during mid-day trading on Monday . The stock traded as high as $3.64 and last traded at $3.64. Approximately 461,725 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 714,196 shares. The stock had previously closed at $3.48.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Seaport Res Ptn lowered Ferroglobe from a "strong-buy" rating to a "hold" rating in a research note on Monday. StockNews.com cut shares of Ferroglobe from a "buy" rating to a "hold" rating in a research report on Friday, February 21st.

Ferroglobe Price Performance

The company has a 50 day moving average of $3.89 and a 200 day moving average of $4.19. 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 stock has a market capitalization of $654.78 million, a price-to-earnings ratio of 174.25 and a beta of 1.83.

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

Remove Ads

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 20th will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, March 20th. This is a positive change from Ferroglobe's previous quarterly dividend of $0.01. Ferroglobe's dividend payout ratio is 250.00%.

Institutional Trading of Ferroglobe

A number of institutional investors have recently bought and sold shares of the business. Old West Investment Management LLC raised its position in shares of Ferroglobe by 158.0% during the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company's stock worth $13,495,000 after acquiring an additional 1,781,024 shares in the last quarter. Barclays PLC acquired a new stake in Ferroglobe during the third quarter worth approximately $44,000. State Street Corp lifted its position 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 buying an additional 2,615 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Ferroglobe by 1,180.4% in 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 buying an additional 368,300 shares in the last quarter. Finally, Maverick Capital Ltd. grew its position in shares of Ferroglobe by 60.3% in the 3rd quarter. Maverick Capital Ltd. now owns 369,540 shares of the basic materials company's stock valued at $1,715,000 after buying an additional 139,002 shares during the last quarter. 89.64% of the stock is owned by hedge funds and other 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.