Ferroglobe PLC (NASDAQ:GSM) Sees Significant Decline in Short Interest

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,660,000 shares, a drop of 14.0% from the January 31st total of 1,930,000 shares. Based on an average trading volume of 903,500 shares, the short-interest ratio is currently 1.8 days. Approximately 1.4% of the company's shares are short sold.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GSM. StockNews.com lowered shares of Ferroglobe from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Seaport Res Ptn cut shares of Ferroglobe from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th.

Ferroglobe Stock Up 4.5 %

NASDAQ GSM traded up $0.17 during trading hours on Friday, reaching $3.96. 3,010,983 shares of the company's stock traded hands, compared to its average volume of 863,020. Ferroglobe has a 52-week low of $3.23 and a 52-week high of $6.19. The firm has a market cap of $744.02 million, a PE ratio of 198.00 and a beta of 1.89. The firm has a 50-day simple moving average of $3.85 and a 200 day simple moving average of $4.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00.

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Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (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 company had revenue of $367.51 million during the quarter, compared to analysts' expectations of $393.00 million. Sell-side analysts anticipate that Ferroglobe will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.014 per share. This is a boost from Ferroglobe's previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.41%. Ferroglobe's dividend payout ratio is presently 250.00%.

Institutional Investors Weigh In On Ferroglobe

Institutional investors have recently made changes to their positions in the company. Barclays PLC purchased a new stake in shares of Ferroglobe during the third quarter valued at approximately $44,000. Heck Capital Advisors LLC purchased a new stake in Ferroglobe in the fourth quarter worth approximately $37,000. Raymond James Financial Inc. purchased a new stake in Ferroglobe in the fourth quarter worth approximately $42,000. LPL Financial LLC purchased a new stake in Ferroglobe in the fourth quarter worth approximately $42,000. Finally, RPO LLC purchased a new stake in Ferroglobe in the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors 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.