Ferroglobe (NASDAQ:GSM) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a report released on Friday.

Ferroglobe Trading Down 4.0 %

GSM opened at $3.49 on Friday. 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 has a fifty-two week low of $3.45 and a fifty-two week high of $6.19. The company’s 50 day moving average price is $3.93 and its two-hundred day moving average price is $4.23. The firm has a market capitalization of $654.76 million, a price-to-earnings ratio of 174.25 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $367.51 million during the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a return on equity of 6.24% and a net margin of 0.32%. As a group, research analysts predict that Ferroglobe will post 0.49 earnings per share for the current year.

Ferroglobe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be paid a $0.014 dividend. The ex-dividend date is Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.61%. Ferroglobe’s payout ratio is 250.00%.

Hedge Funds Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently made changes to their positions in GSM. Wexford Capital LP bought a new position in shares of Ferroglobe in the 4th quarter worth $552,000. State of Wyoming raised its holdings in Ferroglobe by 165.3% during the fourth quarter. State of Wyoming now owns 122,523 shares of the basic materials company’s stock worth $466,000 after buying an additional 76,337 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Ferroglobe in the fourth quarter valued at $592,000. Lloyd Harbor Capital Management LLC acquired a new position in shares of Ferroglobe during the fourth quarter valued at about $5,605,000. Finally, Graham Capital Management L.P. increased its position in shares of Ferroglobe by 1,185.6% during the fourth quarter. Graham Capital Management L.P. now owns 912,398 shares of the basic materials company’s stock worth $3,467,000 after acquiring an additional 841,427 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.