Ferroglobe (NASDAQ:GSM) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a report issued on Wednesday.

Ferroglobe Stock Up 4.3 %

Shares of Ferroglobe stock opened at $4.61 on Wednesday. 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 company has a 50-day moving average of $5.45 and a 200 day moving average of $5.25. The firm has a market cap of $864.07 million, a price-to-earnings ratio of 13.56 and a beta of 1.87. Ferroglobe has a 1 year low of $4.26 and a 1 year high of $6.78.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. The company had revenue of $451.05 million during the quarter, compared to analyst estimates of $425.55 million. Ferroglobe had a net margin of 3.92% and a return on equity of 15.06%. During the same period last year, the business earned $0.30 EPS. As a group, sell-side analysts anticipate that Ferroglobe will post 0.24 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be given a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, September 20th. Ferroglobe’s dividend payout ratio (DPR) is 14.71%.

Institutional Trading of Ferroglobe

Several institutional investors have recently bought and sold shares of the company. Old West Investment Management LLC grew its position in Ferroglobe by 880.4% during the 2nd quarter. Old West Investment Management LLC now owns 1,127,477 shares of the basic materials company’s stock valued at $6,043,000 after purchasing an additional 1,012,477 shares during the last quarter. Cowen AND Company LLC purchased a new stake in Ferroglobe during the 2nd quarter valued at about $2,787,000. Caprock Group LLC purchased a new stake in Ferroglobe during the 2nd quarter valued at about $343,000. Acadian Asset Management LLC purchased a new stake in Ferroglobe during the 2nd quarter valued at about $518,000. Finally, Ritholtz Wealth Management grew its position in Ferroglobe by 64.1% during the 2nd quarter. Ritholtz Wealth Management now owns 200,990 shares of the basic materials company’s stock valued at $1,077,000 after purchasing an additional 78,509 shares during 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.