Ferroglobe (NASDAQ:GSM) Shares Cross Above 200-Day Moving Average of $5.27

Ferroglobe PLC (NASDAQ:GSM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.27 and traded as high as $5.40. Ferroglobe shares last traded at $5.36, with a volume of 860,655 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a report on Thursday.

Ferroglobe Stock Performance

The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.22. The firm has a 50-day simple moving average of $4.92 and a 200 day simple moving average of $5.27. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 11.65 and a beta of 1.99.

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

Ferroglobe Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd were paid 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 dividend yield of 0.97%. Ferroglobe’s dividend payout ratio (DPR) is 10.87%.

Hedge Funds Weigh In On Ferroglobe

Several institutional investors have recently added to or reduced their stakes in GSM. New York State Common Retirement Fund purchased a new stake in shares of Ferroglobe in the third quarter valued at about $47,000. Covestor Ltd boosted its holdings in Ferroglobe by 12,965.3% in the 3rd quarter. Covestor Ltd now owns 9,407 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 9,335 shares in the last quarter. Mutual Advisors LLC acquired a new position in Ferroglobe during the 3rd quarter worth approximately $52,000. Banco Santander S.A. purchased a new position in shares of Ferroglobe during the 3rd quarter worth approximately $77,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Ferroglobe in the 3rd quarter valued at approximately $79,000. Institutional investors and hedge funds 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.