Short Interest in Ferroglobe PLC (NASDAQ:GSM) Drops By 7.4%

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,880,000 shares, a decline of 7.4% from the October 15th total of 2,030,000 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

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

Ferroglobe Trading Up 6.4 %

GSM stock traded up $0.27 on Monday, reaching $4.50. The company's stock had a trading volume of 1,405,328 shares, compared to its average volume of 1,364,545. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83. The business has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $4.96. The firm has a market cap of $843.44 million, a PE ratio of 17.63 and a beta of 1.88. Ferroglobe has a 12-month low of $3.99 and a 12-month high of $6.78.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its quarterly earnings results 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). Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. The company had revenue of $433.53 million for the quarter, compared to analysts' expectations of $443.50 million. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, research analysts forecast that Ferroglobe will post 0.28 EPS for the current year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be given a dividend of $0.013 per share. The ex-dividend date is Friday, December 20th. This represents a $0.05 annualized dividend and a yield of 1.16%. Ferroglobe's dividend payout ratio (DPR) is currently 20.83%.

Institutional Trading of Ferroglobe

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