Ferroglobe (NASDAQ:GSM) Reaches New 1-Year Low – What’s Next?

Ferroglobe PLC (NASDAQ:GSM) shares reached a new 52-week low on Thursday . The company traded as low as $3.67 and last traded at $3.71, with a volume of 1287640 shares. The stock had previously closed at $3.82.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday.

Ferroglobe Trading Down 4.0 %

The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $654.76 million, a P/E ratio of 174.25 and a beta of 1.83. The firm’s 50-day simple moving average is $3.93 and its 200 day simple moving average is $4.23.

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

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio is 250.00%.

Hedge Funds Weigh In On Ferroglobe

Hedge funds have recently modified their holdings of the stock. Cooper Creek Partners Management LLC raised its holdings in shares of Ferroglobe by 2.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company’s stock valued at $56,964,000 after acquiring an additional 291,201 shares during the period. Hosking Partners LLP raised its position in Ferroglobe by 1.8% during the fourth quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock valued at $34,216,000 after buying an additional 159,845 shares during the period. Wolf Hill Capital Management LP lifted its stake in Ferroglobe by 11.0% in the 4th quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company’s stock worth $27,499,000 after acquiring an additional 714,726 shares in the last quarter. Donald Smith & CO. Inc. grew its position in Ferroglobe by 852.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company’s stock valued at $22,614,000 after purchasing an additional 5,326,051 shares in the last quarter. Finally, Old West Investment Management LLC increased its stake in shares of Ferroglobe by 233.4% in the third quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock worth $17,439,000 after acquiring an additional 2,631,024 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

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.