Ferroglobe (NASDAQ:GSM) Shares Down 5.4%

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) dropped 5.4% during trading on Wednesday . The company traded as low as $4.67 and last traded at $4.69. Approximately 1,735,156 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 1,374,107 shares. The stock had previously closed at $4.96.

Analyst Upgrades and Downgrades

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

Ferroglobe Stock Performance

The company has a market cap of $862.20 million, a price-to-earnings ratio of 13.53 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.63. The company has a fifty day moving average of $4.53 and a two-hundred day moving average of $5.11.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. The business had revenue of $451.05 million during the quarter, compared to analyst estimates of $425.55 million. During the same quarter last year, the business earned $0.30 EPS. Equities research analysts anticipate that Ferroglobe PLC will post 0.28 EPS for the current year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were paid a $0.013 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.05 annualized dividend and a dividend yield of 1.13%. Ferroglobe's payout ratio is 14.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Ferroglobe in the 2nd quarter worth about $84,000. Kathmere Capital Management LLC increased its holdings in Ferroglobe by 22.3% in the second quarter. Kathmere Capital Management LLC now owns 31,901 shares of the basic materials company's stock worth $171,000 after purchasing an additional 5,822 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Ferroglobe in the second quarter valued at approximately $551,000. Mackenzie Financial Corp acquired a new position in Ferroglobe in the second quarter valued at approximately $230,000. Finally, Maverick Capital Ltd. bought a new position in shares of Ferroglobe during the 2nd quarter worth approximately $1,236,000. Institutional investors and hedge funds 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.