Ferroglobe (NASDAQ:GSM) Trading 3% Higher

Ferroglobe PLC (NASDAQ:GSM) shares traded up 3% during mid-day trading on Wednesday . The stock traded as high as $5.23 and last traded at $5.20. 69,651 shares changed hands during trading, a decline of 96% from the average session volume of 1,565,259 shares. The stock had previously closed at $5.05.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a report on Tuesday, March 26th.

Ferroglobe Price Performance

The company has a market capitalization of $942.77 million, a PE ratio of 10.94 and a beta of 2.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32. The company’s 50 day simple moving average is $4.87 and its 200 day simple moving average is $5.24.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $375.95 million for the quarter, compared to analyst estimates of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. As a group, sell-side analysts predict that Ferroglobe PLC will post 0.26 earnings per share for the current year.

Ferroglobe Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were paid a $0.013 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.05 annualized dividend and a yield of 1.03%. Ferroglobe’s dividend payout ratio is currently 10.87%.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds have recently added to or reduced their stakes in the stock. Wolf Hill Capital Management LP grew its position in Ferroglobe by 61.2% in the 1st quarter. Wolf Hill Capital Management LP now owns 9,377,230 shares of the basic materials company’s stock valued at $46,324,000 after buying an additional 3,560,697 shares during the last quarter. Grizzlyrock Capital LLC purchased a new position in Ferroglobe in the 4th quarter valued at $19,467,000. Millennium Management LLC grew its position in Ferroglobe by 32.5% in the 4th quarter. Millennium Management LLC now owns 5,408,473 shares of the basic materials company’s stock valued at $20,823,000 after buying an additional 1,327,742 shares during the last quarter. Tyro Capital Management LLC purchased a new position in Ferroglobe in the 4th quarter valued at $7,228,000. Finally, Orchard Capital Management LLC acquired a new stake in Ferroglobe in the fourth quarter valued at $6,777,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.