Ferroglobe (NASDAQ:GSM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Trading Down 3.3%

Shares of GSM opened at $4.10 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $4.02. Ferroglobe has a 1-year low of $3.08 and a 1-year high of $5.74. The stock has a market cap of $765.17 million, a price-to-earnings ratio of -18.64 and a beta of 1.06.

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were given a dividend of $0.0150 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.06 annualized dividend and a yield of 1.5%. Ferroglobe’s payout ratio is -27.27%.

Insider Buying and Selling at Ferroglobe

In other news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the completion of the transaction, the insider directly owned 31,693 shares in the company, valued at approximately $136,279.90. This represents a 50.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.07% of the company’s stock.

Institutional Trading of Ferroglobe

Several institutional investors have recently added to or reduced their stakes in GSM. Donald Smith & CO. Inc. acquired a new stake in shares of Ferroglobe during the second quarter worth $25,843,000. Ardsley Advisory Partners LP acquired a new position in shares of Ferroglobe in the 4th quarter valued at about $9,837,000. Man Investment Partners US LP bought a new stake in shares of Ferroglobe during the 4th quarter valued at about $6,021,000. Bastion Asset Management Inc. bought a new stake in shares of Ferroglobe during the 1st quarter valued at about $4,155,000. Finally, Empowered Funds LLC raised its stake in Ferroglobe by 7.5% during the first quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company’s stock worth $3,622,000 after acquiring an additional 61,474 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Company Profile

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based products used in the manufacture of aluminum, steel, silicones and other industrial materials. Its product portfolio includes silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloys, as well as silica fume and related products.

The company serves customers across industries such as automotive, construction, renewable energy, consumer products and chemicals. Its materials are used to improve the strength and performance of steel and aluminum, support silicone production and contribute to other metallurgical and industrial applications.

Ferroglobe was formed in 2015 through the combination of Globe Specialty Metals and Grupo FerroAtlántica.