Ferroglobe (NASDAQ:GSM) Shares Down 7.2% – Should You Sell?

Ferroglobe PLC (NASDAQ:GSM) traded down 7.2% on Friday . The stock traded as low as $4.96 and last traded at $4.9290. 253,756 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 934,282 shares. The stock had previously closed at $5.31.

Analysts Set New Price Targets

A number of research firms recently commented on GSM. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. B. Riley decreased their target price on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Price Performance

The company has a 50 day moving average price of $4.51 and a 200-day moving average price of $4.49. The company has a market cap of $920.09 million, a price-to-earnings ratio of -6.66 and a beta of 1.08. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $311.70 million during the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. As a group, equities research analysts predict that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 22nd were given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is currently -8.11%.

Institutional Investors Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently made changes to their positions in GSM. Vanguard Personalized Indexing Management LLC raised its position in shares of 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 acquiring an additional 2,494 shares during the last quarter. SG Americas Securities LLC increased its position in Ferroglobe by 22.0% during the 4th quarter. SG Americas Securities LLC now owns 14,509 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 2,617 shares during the period. Spire Wealth Management raised its holdings in Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 2,740 shares during the last quarter. R Squared Ltd lifted its position in shares of Ferroglobe by 35.8% in the 3rd quarter. R Squared Ltd now owns 13,941 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 3,677 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Ferroglobe by 2.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 140,675 shares of the basic materials company’s stock valued at $516,000 after purchasing an additional 3,919 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

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.