Ferroglobe PLC (GSM) to Distribute Quarterly Dividend of $0.01 on September 29th

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Tuesday, August 4th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of 0.015 per share by the basic materials company on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Ferroglobe has a payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ferroglobe to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 14.6%.

Ferroglobe Price Performance

GSM stock opened at $4.15 on Thursday. The firm has a market cap of $774.51 million, a P/E ratio of -18.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. Ferroglobe has a 1 year low of $3.08 and a 1 year high of $5.74. The stock has a 50-day simple moving average of $3.60 and a 200-day simple moving average of $4.23.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) EPS for the quarter. Ferroglobe had a negative return on equity of 3.74% and a negative net margin of 2.96%.The company had revenue of $347.75 million for the quarter. On average, equities analysts predict that Ferroglobe will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GSM. California State Teachers Retirement System purchased a new stake in Ferroglobe during the 2nd quarter worth approximately $27,000. Quadrant Capital Group LLC boosted its stake in shares of 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. Irenic Capital Management LP purchased a new position in shares of Ferroglobe during the 4th quarter valued at approximately $46,000. Highland Capital Management LLC bought a new stake in shares of Ferroglobe in the fourth quarter worth $46,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Ferroglobe by 1,017,300.0% in 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 during the last quarter. Hedge funds and other institutional investors 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.