Ferroglobe (NASDAQ:GSM) Sets New 52-Week Low – Here’s Why

Shares of Ferroglobe PLC (NASDAQ:GSM) hit a new 52-week low during trading on Monday . The company traded as low as $3.74 and last traded at $3.75, with a volume of 553195 shares trading hands. The stock had previously closed at $3.87.

Ferroglobe Stock Performance

The company has a market capitalization of $710.37 million, a P/E ratio of 15.79 and a beta of 1.86. The company has a quick ratio of 1.00, a current ratio of 1.83 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $4.27 and its 200 day moving average price is $4.67.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $433.53 million for the quarter, compared to analysts’ expectations of $443.50 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. During the same period in the previous year, the firm earned $0.27 EPS. As a group, equities research analysts predict that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be given a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, December 20th. Ferroglobe’s payout ratio is 20.83%.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC purchased a new position in Ferroglobe in the third quarter valued at about $44,000. Banco Santander S.A. purchased a new stake in shares of Ferroglobe during the 2nd quarter valued at $80,000. Vanguard Personalized Indexing Management LLC lifted its stake in Ferroglobe by 40.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company’s stock worth $84,000 after purchasing an additional 4,480 shares during the last quarter. Quarry LP bought a new stake in Ferroglobe in the 2nd quarter worth approximately $84,000. Finally, nVerses Capital LLC bought a new stake in shares of Ferroglobe in the 2nd quarter worth approximately $95,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

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.