Ferroglobe (NASDAQ:GSM) Stock: Insider David Marie Gabriel Girardeau Acquires 15,500 Shares

Ferroglobe PLC (NASDAQ:GSM) insider David Marie Gabriel Girardeau purchased 15,500 shares of Ferroglobe stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average cost of $2.62 per share, with a total value of $40,610.00. Following the transaction, the insider owned 70,664 shares in the company, valued at $185,139.68. This trade represents a 28.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ferroglobe Stock Down 1.6%

GSM stock traded down $0.05 during midday trading on Friday, reaching $3.00. 2,320,003 shares of the company’s stock traded hands, compared to its average volume of 1,733,057. The company has a market cap of $559.89 million, a price-to-earnings ratio of 18.75 and a beta of 1.21. The firm’s fifty day moving average price is $3.94 and its 200-day moving average price is $4.13. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 0.05. Ferroglobe PLC has a 52 week low of $2.50 and a 52 week high of $5.66.

Ferroglobe (NASDAQ:GSM) 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 business had revenue of $369.76 million for the quarter, compared to analyst estimates of $382.80 million. Ferroglobe had a negative return on equity of 5.15% and a net margin of 2.13%. As a group, sell-side analysts forecast that Ferroglobe PLC will post -0.05 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently announced 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 payout ratio is presently 37.50%.

Wall Street Analysts Forecast Growth

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

Recent Ferroglobe Headlines

These are some of the GSM headlines that stood out recently:

• Positive Sentiment: Four Ferroglobe directors and insiders bought a combined 80,842 shares on November 6 for about $212,000, increasing their reported holdings. Investors may interpret the purchases as a sign of confidence in the company. Insider purchase report
• Neutral Sentiment: The company declared a quarterly dividend of $0.015 per share, equivalent to $0.06 annually. This provides a modest income component but is unlikely to be a major near-term catalyst.
• Negative Sentiment: Ferroglobe’s latest reported quarter showed a loss of $0.06 per share, worse than the $0.04 loss analysts expected; revenue of $369.8 million also missed estimates of $382.8 million. The results underscore continued operating pressure.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently bought and sold shares of GSM. Donald Smith & CO. Inc. purchased a new stake in Ferroglobe in the second quarter worth approximately $25,843,000. Bastion Asset Management Inc. purchased a new position in shares of Ferroglobe during the first quarter worth approximately $4,155,000. Royce & Associates LP raised 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 worth $11,055,000 after acquiring an additional 868,193 shares in the last quarter. Orchard Capital Management LLC lifted its holdings in shares of Ferroglobe by 38.1% in the 3rd quarter. Orchard Capital Management LLC now owns 953,083 shares of the basic materials company’s stock worth $3,789,000 after acquiring an additional 263,083 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Ferroglobe by 67.0% in the 1st 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 last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.

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.