Ferroglobe (NASDAQ:GSM) Hits New 1-Year Low – Here’s What Happened

Ferroglobe PLC (NASDAQ:GSM) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $3.19 and last traded at $3.33, with a volume of 812285 shares changing hands. The stock had previously closed at $3.44.

Analysts Set New Price Targets

A number of research firms have weighed in on GSM. Seaport Res Ptn lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Ferroglobe Stock Down 2.6 %

The stock has a market cap of $629.41 million, a PE ratio of 167.50 and a beta of 1.89. The business has a fifty day moving average of $3.80 and a 200-day moving average of $4.08. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Equities research analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th were given a dividend of $0.014 per share. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a yield of 1.67%. Ferroglobe’s dividend payout ratio (DPR) is 250.00%.

Hedge Funds Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC purchased a new stake in Ferroglobe during the fourth quarter worth $37,000. Wexford Capital LP purchased a new stake in shares of Ferroglobe during the 4th quarter worth $552,000. State of Wyoming boosted its position in Ferroglobe by 165.3% during the fourth quarter. State of Wyoming now owns 122,523 shares of the basic materials company’s stock valued at $466,000 after purchasing an additional 76,337 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Ferroglobe in the fourth quarter valued at about $592,000. Finally, Lloyd Harbor Capital Management LLC bought a new position in Ferroglobe in the fourth quarter worth about $5,605,000. 89.64% of the stock is currently owned by institutional investors.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.