Insider Buying: Ferroglobe (NASDAQ:GSM) Director Acquires 26,000 Shares of Stock

Ferroglobe PLC (NASDAQ:GSM) Director De Fuentes Silvia Villar-Mir purchased 26,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the purchase, the director directly owned 121,226 shares of the company’s stock, valued at approximately $467,932.36. This represents a 27.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ferroglobe Trading Up 2.4%

Shares of NASDAQ:GSM traded up $0.10 during midday trading on Wednesday, hitting $4.20. 1,069,317 shares of the stock were exchanged, compared to its average volume of 1,332,900. The business’s 50-day moving average price is $4.88 and its 200 day moving average price is $4.68. Ferroglobe PLC has a 12 month low of $2.97 and a 12 month high of $5.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.97 and a current ratio of 1.66. The stock has a market capitalization of $783.83 million, a price-to-earnings ratio of -4.57 and a beta of 0.93.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data 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. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. The business had revenue of $329.38 million during the quarter, compared to analyst estimates of $293.60 million. Analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Monday, March 23rd. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. Ferroglobe’s payout ratio is -6.52%.

Wall Street Analyst Weigh In

GSM has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in Ferroglobe by 168.8% during the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock worth $4,121,000 after purchasing an additional 697,476 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after buying an additional 81,611 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Ferroglobe during the second quarter worth $90,000. Geode Capital Management LLC raised its stake in Ferroglobe by 1,068.3% during the second quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock worth $5,719,000 after buying an additional 1,424,998 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Ferroglobe during the second quarter worth $105,000. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.