Ferroglobe (NASDAQ:GSM) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM opened at $5.52 on Tuesday. The firm has a market capitalization of $1.03 billion, a PE ratio of 16.24 and a beta of 1.87. Ferroglobe has a 12 month low of $4.26 and a 12 month high of $6.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.02. The business has a 50-day moving average of $5.57 and a two-hundred day moving average of $5.41.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were given a dividend of $0.013 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.05 dividend on an annualized basis and a yield of 0.94%. Ferroglobe’s dividend payout ratio (DPR) is 14.71%.

Institutional Trading of Ferroglobe

A number of institutional investors have recently added to or reduced their stakes in the business. Hosking Partners LLP grew its position in Ferroglobe by 29.8% in the first quarter. Hosking Partners LLP now owns 6,127,015 shares of the basic materials company’s stock valued at $30,513,000 after acquiring an additional 1,407,079 shares in the last quarter. Masters Capital Management LLC boosted its stake in shares of Ferroglobe by 37.0% in the first quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company’s stock valued at $15,687,000 after purchasing an additional 850,000 shares during the period. Grizzlyrock Capital LLC acquired a new stake in Ferroglobe during the 4th quarter valued at $19,467,000. Tyro Capital Management LLC increased its stake in Ferroglobe by 79.4% during the 1st quarter. Tyro Capital Management LLC now owns 1,992,274 shares of the basic materials company’s stock worth $9,922,000 after buying an additional 881,976 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Ferroglobe by 8.6% in the 1st quarter. First Eagle Investment Management LLC now owns 1,620,155 shares of the basic materials company’s stock worth $8,068,000 after buying an additional 127,795 shares in the last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.