Ferroglobe (NASDAQ:GSM) Chairman Madrid Javier Lopez Acquires 28,671 Shares of Stock

Ferroglobe PLC (NASDAQ:GSM) Chairman Madrid Javier Lopez purchased 28,671 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $2.62 per share, for a total transaction of $75,118.02. Following the completion of the acquisition, the chairman directly owned 128,399 shares of the company’s stock, valued at $336,405.38. This represents a 28.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Ferroglobe Stock Up 6.3%

NASDAQ GSM opened at $3.05 on Friday. Ferroglobe PLC has a 12 month low of $2.50 and a 12 month high of $5.66. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average price is $3.97 and its two-hundred day moving average price is $4.14.

Ferroglobe (NASDAQ:GSM) last released its earnings results 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 company had revenue of $369.76 million during the quarter, compared to the consensus estimate of $382.80 million. Ferroglobe had a negative return on equity of 5.15% and a net margin of 2.13%. Equities analysts anticipate that Ferroglobe PLC will post -0.05 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 22nd will be given a dividend of $0.0150 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.06 annualized dividend and a dividend yield of 2.0%. Ferroglobe’s dividend payout ratio (DPR) is presently 37.50%.

More Ferroglobe News

These are some of the GSM news items that stood out recently:

• Positive Sentiment: Four Ferroglobe directors and insiders bought a combined 80,842 shares on November 6 for about $212,000. The purchases increased each buyer’s reported holdings, which investors may view as a sign of confidence in the company. SEC filing SEC filing SEC filing SEC filing
• Positive Sentiment: Ferroglobe co-led a $30 million Series B financing for Coreshell Technologies, which is developing batteries using domestic critical materials. The investment could strengthen Ferroglobe’s strategic exposure to battery supply chains and U.S. materials demand, although the article does not specify the size of Ferroglobe’s investment. Coreshell Technologies financing announcement
• Negative Sentiment: Recent quarterly results were a counterweight: Ferroglobe reported a per-share loss that was worse than analysts expected, while revenue also fell short of consensus, highlighting ongoing operating challenges.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently modified their holdings of the business. PDT Partners LLC bought a new position in shares of Ferroglobe in the 2nd quarter worth about $44,000. StoneX Group Inc. acquired a new position in shares of Ferroglobe in the 3rd quarter valued at about $48,000. Abel Hall LLC acquired a new position in shares of Ferroglobe in the 3rd quarter valued at about $61,000. Covestor Ltd boosted its holdings in shares of Ferroglobe by 28.4% in the 3rd quarter. Covestor Ltd now owns 22,418 shares of the basic materials company’s stock valued at $89,000 after buying an additional 4,952 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Ferroglobe during the 1st quarter valued at about $124,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on GSM shares. Jefferies Financial Group set a $5.00 price objective on Ferroglobe in a research note on Friday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ferroglobe in a report on Monday, November 2nd. Wall Street Zen upgraded Ferroglobe from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Needham & Company LLC set a $5.00 price target on Ferroglobe in a report on Friday, November 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $5.00.

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.