Ferroglobe (NASDAQ:GSM) Stock Price Up 3.5% – Here’s Why

Ferroglobe PLC (NASDAQ:GSM)’s share price rose 3.5% during mid-day trading on Friday . The stock traded as high as $4.20 and last traded at $4.17. Approximately 65,654 shares traded hands during trading, a decline of 95% from the average daily volume of 1,356,470 shares. The stock had previously closed at $4.03.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th.

Ferroglobe Trading Up 5.0 %

The stock’s 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $4.97. The stock has a market capitalization of $792.85 million, a PE ratio of 17.63 and a beta of 1.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.00.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. The firm had revenue of $433.53 million for the quarter, compared to analysts’ expectations of $443.50 million. During the same period in the prior year, the company earned $0.27 EPS. On average, sell-side analysts expect that Ferroglobe PLC will post 0.28 EPS for the current year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be paid a $0.013 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.05 annualized dividend and a dividend yield of 1.23%. Ferroglobe’s payout ratio is 20.83%.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently bought and sold shares of GSM. State Street Corp lifted its holdings in shares of Ferroglobe by 1.6% in the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock worth $757,000 after buying an additional 2,615 shares in the last quarter. Covestor Ltd increased its holdings in Ferroglobe by 266.1% during the 1st quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 3,864 shares during the period. ARS Investment Partners LLC increased its holdings in Ferroglobe by 6.2% during the 2nd quarter. ARS Investment Partners LLC now owns 69,000 shares of the basic materials company’s stock worth $370,000 after acquiring an additional 4,000 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Ferroglobe by 40.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 4,480 shares during the period. Finally, West Tower Group LLC grew its position in shares of Ferroglobe by 3.8% during the 3rd quarter. West Tower Group LLC now owns 137,291 shares of the basic materials company’s stock valued at $637,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

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.