StockNews.com Lowers Ferroglobe (NASDAQ:GSM) to Hold

StockNews.com lowered shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a report published on Wednesday morning.

Ferroglobe Stock Up 0.7 %

GSM opened at $5.38 on Wednesday. The business’s fifty day simple moving average is $4.88 and its 200 day simple moving average is $5.25. Ferroglobe has a 52 week low of $3.95 and a 52 week high of $6.78. The firm has a market cap of $1.01 billion, a P/E ratio of 11.70 and a beta of 1.99. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.22.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $375.95 million during 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, equities research analysts anticipate that Ferroglobe will post 0.26 EPS for the current fiscal year.

Ferroglobe Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were given a dividend of $0.013 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.05 annualized dividend and a yield of 0.97%. Ferroglobe’s dividend payout ratio (DPR) is presently 10.87%.

Institutional Trading of Ferroglobe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd boosted its position in shares of Ferroglobe by 4.2% in the third quarter. WINTON GROUP Ltd now owns 66,380 shares of the basic materials company’s stock worth $345,000 after acquiring an additional 2,682 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Ferroglobe during the 3rd quarter worth $47,000. Covestor Ltd raised its position in shares of Ferroglobe by 12,965.3% in the 3rd quarter. Covestor Ltd now owns 9,407 shares of the basic materials company’s stock worth $49,000 after buying an additional 9,335 shares during the period. Mutual Advisors LLC acquired a new position in Ferroglobe in the third quarter valued at $52,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ferroglobe by 70.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,895 shares of the basic materials company’s stock valued at $129,000 after purchasing an additional 10,250 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

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.