Insider Buying: Ferroglobe (NASDAQ:GSM) Chairman Purchases $100,360.00 in Stock

Ferroglobe PLC (NASDAQ:GSM) Chairman Madrid Javier Lopez purchased 26,000 shares of the stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the transaction, the chairman directly owned 147,200 shares of the company’s stock, valued at approximately $568,192. This represents a 21.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Ferroglobe Price Performance

GSM opened at $4.30 on Friday. The stock has a 50-day moving average price of $4.83 and a 200-day moving average price of $4.67. Ferroglobe PLC has a 12-month low of $2.97 and a 12-month high of $5.74. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $802.51 million, a P/E ratio of -4.67 and a beta of 0.93.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $329.38 million for the quarter, compared to analyst estimates of $293.60 million. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%. Equities analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

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

Institutional Investors Weigh In On Ferroglobe

Institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC grew its position in Ferroglobe by 14.3% during the 3rd 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 lifted its position in Ferroglobe by 22.0% in the fourth 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 last quarter. Covestor Ltd lifted its position in Ferroglobe by 23.2% in the fourth quarter. Covestor Ltd now owns 14,160 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 2,670 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Ferroglobe by 49.0% during the fourth quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 2,740 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Ferroglobe by 66.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 3,146 shares during the period. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GSM has been the subject of a number of recent research reports. Weiss Ratings restated 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, Wall Street Zen raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.00.

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.