Ferroglobe (NASDAQ:GSM) Stock Price Down 5% – What’s Next?

Ferroglobe PLC (NASDAQ:GSM) shares were down 5% on Friday . The stock traded as low as $3.89 and last traded at $3.87. Approximately 360,609 shares changed hands during trading, a decline of 69% from the average daily volume of 1,174,523 shares. The stock had previously closed at $4.07.

Wall Street Analysts Forecast Growth

GSM has been the topic of several recent analyst reports. StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seaport Res Ptn cut shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

Ferroglobe Price Performance

The business has a fifty day moving average price of $3.87 and a 200 day moving average price of $4.12. The company has a market cap of $728.05 million, a price-to-earnings ratio of 193.25 and a beta of 1.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82.

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

Ferroglobe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be given a $0.014 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a yield of 1.45%. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio (DPR) is currently 250.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State Street Corp increased its holdings in Ferroglobe by 1.6% in the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock worth $757,000 after purchasing an additional 2,615 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ferroglobe by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company’s stock valued at $857,000 after buying an additional 2,760 shares during the period. West Tower Group LLC raised its holdings in Ferroglobe by 3.8% in the 3rd quarter. West Tower Group LLC now owns 137,291 shares of the basic materials company’s stock valued at $637,000 after buying an additional 5,000 shares during the last quarter. New York State Common Retirement Fund boosted its position in Ferroglobe by 48.9% during the 4th quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock worth $84,000 after buying an additional 7,271 shares during the period. Finally, Qtron Investments LLC grew its holdings in Ferroglobe by 49.7% during the 4th quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company’s stock worth $85,000 after acquiring an additional 7,396 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors.

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.