Ferroglobe (NASDAQ:GSM) Shares Down 6.5% – Here’s What Happened

Shares of Ferroglobe PLC (NASDAQ:GSM) fell 6.5% on Monday . The company traded as low as $3.10 and last traded at $3.1150. Approximately 459,764 shares were traded during trading, a decline of 65% from the average daily volume of 1,325,999 shares. The stock had previously closed at $3.33.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research note on Friday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Stock Up 1.3%

The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average price is $4.09 and its 200-day moving average price is $4.49. The stock has a market capitalization of $593.67 million, a PE ratio of -5.30 and a beta of 1.00.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. The company had revenue of $347.75 million for the quarter. Ferroglobe had a negative net margin of 8.09% and a negative return on equity of 5.63%. Analysts forecast that Ferroglobe PLC will post -0.14 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.015 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.9%. Ferroglobe’s dividend payout ratio (DPR) is presently -10.00%.

Hedge Funds Weigh In On Ferroglobe

Several large investors have recently modified their holdings of the stock. Hosking Partners LLP lifted its holdings in shares of Ferroglobe by 3.1% during the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock valued at $52,040,000 after purchasing an additional 341,194 shares in the last quarter. CenterBook Partners LP boosted its position in shares of Ferroglobe by 59.1% during the fourth quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company’s stock valued at $6,840,000 after buying an additional 547,847 shares during the last quarter. West Tower Group LLC purchased a new stake in shares of Ferroglobe during the fourth quarter valued at $581,000. Man Investment Partners US LP bought a new stake in Ferroglobe in the 4th quarter worth about $6,021,000. Finally, Unison Advisors LLC bought a new stake in Ferroglobe in the 4th quarter worth about $724,000. Hedge funds and other 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.