Ferroglobe (NASDAQ:GSM) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Ferroglobe (NASDAQ:GSM) from a sell rating to a hold rating in a research note published on Saturday.

GSM has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a report on Thursday, January 22nd. Zacks Research raised shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, B. Riley Financial cut their price target on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Ferroglobe Trading Up 0.6%

Shares of Ferroglobe stock opened at $5.03 on Friday. The firm has a market cap of $938.75 million, a price-to-earnings ratio of -5.47 and a beta of 1.09. Ferroglobe has a 52-week low of $2.97 and a 52-week high of $5.74. The company’s 50-day simple moving average is $4.92 and its 200-day simple moving average is $4.61. 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 data on Tuesday, February 17th. The basic materials company reported ($0.06) 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 firm had revenue of $329.38 million during the quarter, compared to the consensus estimate of $293.60 million. As a group, equities research analysts anticipate that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The company 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. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $0.06 annualized dividend and a dividend yield of 1.2%. Ferroglobe’s dividend payout ratio is presently -6.52%.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new stake in shares of Ferroglobe in the second quarter valued at about $27,000. State of Alaska Department of Revenue purchased a new stake in Ferroglobe in the 3rd quarter valued at approximately $32,000. Quadrant Capital Group LLC grew its holdings in Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock valued at $37,000 after buying an additional 3,146 shares during the last quarter. BNP Paribas Financial Markets increased its position in Ferroglobe by 1,017,300.0% during the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after buying an additional 10,173 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Ferroglobe during the second quarter worth $38,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

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.