Ferroglobe (NASDAQ:GSM) Stock Price Up 4.3% – Time to Buy?

Ferroglobe PLC (NASDAQ:GSM)’s stock price was up 4.3% on Thursday . The stock traded as high as $3.44 and last traded at $3.51. Approximately 68,038 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 769,507 shares. The stock had previously closed at $3.36.

Analysts Set New Price Targets

Several analysts recently issued reports on GSM shares. StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th.

Ferroglobe Price Performance

The firm has a market cap of $744.02 million, a PE ratio of 198.00 and a beta of 1.89. The firm’s fifty day simple moving average is $3.85 and its two-hundred day simple moving average is $4.15. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The company had revenue of $367.51 million for the quarter, compared to analysts’ expectations of $393.00 million. As a group, research analysts expect that Ferroglobe PLC will post 0.33 EPS for the current 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. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.06 annualized dividend and a dividend yield of 1.41%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

Hedge Funds Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cooper Creek Partners Management LLC grew its holdings in Ferroglobe by 2.0% during the 4th 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 buying an additional 291,201 shares in the last quarter. Hosking Partners LLP boosted its position in shares of Ferroglobe by 1.8% during the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock valued at $34,216,000 after acquiring an additional 159,845 shares during the last quarter. Wolf Hill Capital Management LP grew its holdings in shares of Ferroglobe by 11.0% in the fourth quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company’s stock valued at $27,499,000 after purchasing an additional 714,726 shares in the last quarter. Donald Smith & CO. Inc. increased its position in Ferroglobe by 852.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company’s stock worth $22,614,000 after purchasing an additional 5,326,051 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Ferroglobe by 234.5% during the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock valued at $15,958,000 after purchasing an additional 2,442,507 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

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.