Ferroglobe PLC (NASDAQ:GSM – Get Free Report) insider David Marie Gabriel Girardeau acquired 15,500 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were acquired at an average price of $2.62 per share, with a total value of $40,610.00. Following the completion of the transaction, the insider owned 70,664 shares in the company, valued at $185,139.68. The trade was a 28.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Ferroglobe Stock Up 4.0%
Shares of NASDAQ GSM opened at $2.87 on Thursday. The company has a market cap of $535.62 million, a price-to-earnings ratio of 17.94 and a beta of 1.21. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. Ferroglobe PLC has a 12 month low of $2.50 and a 12 month high of $5.66. The stock has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $4.15.
Ferroglobe (NASDAQ:GSM – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $369.76 million for the quarter, compared to analyst estimates of $382.80 million. Ferroglobe had a net margin of 2.13% and a negative return on equity of 5.15%. As a group, analysts forecast that Ferroglobe PLC will post -0.05 earnings per share for the current fiscal year.
Ferroglobe Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 22nd will be issued a dividend of $0.0150 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 22nd. Ferroglobe’s payout ratio is 37.50%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Needham & Company LLC set a $5.00 target price on Ferroglobe in a research report on Friday, November 6th. Jefferies Financial Group set a $5.00 price objective on Ferroglobe in a research report on Friday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ferroglobe in a report on Monday, November 2nd. Finally, Wall Street Zen raised Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.00.
Read Our Latest Research Report on GSM
Hedge Funds Weigh In On Ferroglobe
A number of large investors have recently modified their holdings of the company. Donald Smith & CO. Inc. purchased a new position in shares of Ferroglobe during the 2nd quarter valued at about $25,843,000. Bastion Asset Management Inc. purchased a new stake in Ferroglobe in the 1st quarter worth approximately $4,155,000. Royce & Associates LP increased its stake in shares of Ferroglobe by 45.4% during the third quarter. Royce & Associates LP now owns 2,781,127 shares of the basic materials company’s stock valued at $11,055,000 after buying an additional 868,193 shares during the period. Sei Investments Co. lifted its stake in Ferroglobe by 67.0% in the first quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company’s stock worth $2,634,000 after acquiring an additional 256,449 shares during the period. Finally, Boston Partners boosted its holdings in Ferroglobe by 47.5% in the third quarter. Boston Partners now owns 600,901 shares of the basic materials company’s stock valued at $2,389,000 after acquiring an additional 193,497 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors.
About Ferroglobe
Ferroglobe plc produces silicon metal, silicon-based alloys and manganese-based alloys. Its products are used in industries including aluminum, steel, chemicals and energy. Silicon metal is an important input for aluminum alloys, silicones and polysilicon, while the company’s alloys are used in steelmaking and other metallurgical applications. Ferroglobe serves customers in markets around the world. The company was formed in 2015 through the merger of Globe Specialty Metals and Grupo FerroAtlántica.
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