Ferroglobe (NASDAQ:GSM) Trading Down 7.2% – What’s Next?

Ferroglobe PLC (NASDAQ:GSM)’s stock price fell 7.2% on Friday . The stock traded as low as $4.96 and last traded at $4.9290. 253,756 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 934,282 shares. The stock had previously closed at $5.31.

Analyst Ratings Changes

GSM has been the subject of several recent research reports. B. Riley reduced their target price on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Wall Street Zen downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ferroglobe currently has a consensus rating of “Hold” and an average target price of $6.00.

Ferroglobe Trading Down 8.2%

The stock’s 50 day moving average price is $4.49 and its 200-day moving average price is $4.48. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $909.26 million, a PE ratio of -6.59 and a beta of 1.08.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $311.70 million for the quarter, compared to analysts’ expectations of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. On average, sell-side analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were paid a $0.014 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.1%. Ferroglobe’s dividend payout ratio is -8.11%.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new position in Ferroglobe in the 2nd quarter worth approximately $27,000. State of Alaska Department of Revenue bought a new stake in shares of Ferroglobe during the third quarter valued at approximately $32,000. BNP Paribas Financial Markets lifted its holdings in shares of Ferroglobe by 1,017,300.0% in the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after buying an additional 10,173 shares in the last quarter. R Squared Ltd bought a new position in shares of Ferroglobe during the second quarter worth $38,000. Finally, Spire Wealth Management boosted its position in shares of Ferroglobe by 49.0% during the fourth quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 2,740 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.