Ferroglobe PLC (GSM) to Issue Quarterly Dividend of $0.01 on December 29th

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Wednesday, November 5th. Investors of record on Monday, December 22nd will be paid a dividend of 0.014 per share by the basic materials company on Monday, December 29th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, December 22nd.

Ferroglobe has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ferroglobe to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 8.5%.

Ferroglobe Price Performance

Ferroglobe stock opened at $4.14 on Friday. The business has a fifty day moving average price of $4.63 and a 200-day moving average price of $4.22. Ferroglobe has a one year low of $2.97 and a one year high of $5.74. The firm has a market capitalization of $772.63 million, a P/E ratio of -7.26 and a beta of 1.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 0.98.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $311.70 million during the quarter, compared to analysts’ expectations of $393.80 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. As a group, equities research analysts forecast that Ferroglobe will post 0.33 EPS for the current year.

Institutional Trading of Ferroglobe

A number of hedge funds have recently bought and sold shares of GSM. Charles Schwab Investment Management Inc. boosted its position in shares of Ferroglobe by 820.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 341,479 shares of the basic materials company’s stock worth $1,267,000 after purchasing an additional 304,381 shares in the last quarter. Maven Securities LTD increased its position in Ferroglobe by 168.1% during the 1st quarter. Maven Securities LTD now owns 107,228 shares of the basic materials company’s stock worth $398,000 after purchasing an additional 67,228 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ferroglobe by 72.3% during the first quarter. Envestnet Asset Management Inc. now owns 288,746 shares of the basic materials company’s stock valued at $1,071,000 after purchasing an additional 121,176 shares during the period. Old West Investment Management LLC increased its position in shares of Ferroglobe by 58.7% during the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company’s stock worth $12,747,000 after acquiring an additional 1,270,625 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 81,611 shares during the last quarter. Institutional investors and hedge funds 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.