Insider Buying: Ferroglobe (NASDAQ:GSM) Director Buys $21,360.00 in Stock

Ferroglobe PLC (NASDAQ:GSM) Director Bruce Larmour Crockett acquired 8,000 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were acquired at an average price of $2.67 per share, with a total value of $21,360.00. Following the completion of the transaction, the director directly owned 54,000 shares in the company, valued at approximately $144,180. This trade represents a 17.39% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ferroglobe Price Performance

Shares of GSM opened at $2.87 on Thursday. The company has a market capitalization of $535.62 million, a price-to-earnings ratio of 17.94 and a beta of 1.21. Ferroglobe PLC has a fifty-two week low of $2.50 and a fifty-two week high of $5.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.34 and a quick ratio of 0.79. The business’s 50-day moving average is $4.00 and its 200-day moving average is $4.15.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Ferroglobe had a negative return on equity of 5.15% and a net margin of 2.13%. The company had revenue of $369.76 million during the quarter, compared to analyst estimates of $382.80 million. Equities research analysts expect that Ferroglobe PLC will post -0.05 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 22nd will be given a $0.0150 dividend. This represents a $0.06 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 22nd. Ferroglobe’s payout ratio is currently 37.50%.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors have recently added to or reduced their stakes in the stock. Boston Partners raised its holdings in shares of Ferroglobe by 47.5% in the 3rd quarter. Boston Partners now owns 600,901 shares of the basic materials company’s stock worth $2,389,000 after buying an additional 193,497 shares in the last quarter. Royce & Associates LP boosted its stake in Ferroglobe by 45.4% in the 3rd 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 in the last quarter. Russell Investments Group Ltd. grew its position in Ferroglobe by 2.0% in the third quarter. Russell Investments Group Ltd. now owns 1,154,691 shares of the basic materials company’s stock valued at $4,590,000 after acquiring an additional 22,873 shares during the period. StoneX Group Inc. bought a new stake in Ferroglobe in the third quarter valued at $48,000. Finally, Covestor Ltd grew its position in Ferroglobe by 28.4% in the third quarter. Covestor Ltd now owns 22,418 shares of the basic materials company’s stock valued at $89,000 after acquiring an additional 4,952 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GSM has been the subject of a number of research reports. Jefferies Financial Group set a $5.00 price target on shares of Ferroglobe in a report on Friday, November 6th. Needham & Company LLC set a $5.00 target price on shares of Ferroglobe in a research note on Friday, November 6th. Wall Street Zen raised Ferroglobe from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ferroglobe in a report on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ferroglobe currently has a consensus rating of “Reduce” and an average price target of $5.00.

Ferroglobe Company Profile

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.