Ferroglobe PLC (NASDAQ:GSM) Raises Dividend to $0.02 Per Share

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Tuesday, February 17th. Stockholders of record on Monday, March 23rd will be given a dividend of 0.015 per share by the basic materials company on Monday, March 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, March 23rd. This is a 7.1% increase from Ferroglobe’s previous quarterly dividend of $0.01.

Ferroglobe has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ferroglobe to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 8.5%.

Ferroglobe Price Performance

Shares of Ferroglobe stock traded up $0.17 on Wednesday, reaching $4.99. The company’s stock had a trading volume of 920,106 shares, compared to its average volume of 1,191,248. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $930.54 million, a P/E ratio of -6.75 and a beta of 1.09. The stock has a 50-day moving average price of $4.90 and a 200-day moving average price of $4.59. Ferroglobe has a 52-week low of $2.97 and a 52-week high of $5.74.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $329.38 million for the quarter, compared to analysts’ expectations of $293.60 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. Analysts expect that Ferroglobe will post 0.33 EPS for the current year.

Institutional Trading of Ferroglobe

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its stake in Ferroglobe by 14.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,968 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 2,494 shares during the period. SG Americas Securities LLC grew its stake in shares of Ferroglobe by 22.0% in the 4th quarter. SG Americas Securities LLC now owns 14,509 shares of the basic materials company’s stock valued at $67,000 after buying an additional 2,617 shares during the period. Covestor Ltd increased its holdings in shares of Ferroglobe by 23.2% during the 4th quarter. Covestor Ltd now owns 14,160 shares of the basic materials company’s stock worth $66,000 after buying an additional 2,670 shares during the last quarter. Spire Wealth Management lifted its holdings in Ferroglobe by 49.0% in the fourth quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 2,740 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Ferroglobe by 66.1% in the fourth quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 3,146 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.