Ferroglobe (NASDAQ:GSM) Stock Price Down 4.9% – Time to Sell?
by Kim Johansen · The Markets DailyFerroglobe PLC (NASDAQ:GSM – Get Free Report)’s share price dropped 4.9% on Tuesday . The company traded as low as $4.02 and last traded at $3.9550. Approximately 291,486 shares traded hands during trading, a decline of 78% from the average daily volume of 1,316,926 shares. The stock had previously closed at $4.16.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on GSM shares. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.00.
Read Our Latest Research Report on GSM
Ferroglobe Price Performance
The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $4.81 and a 200-day simple moving average of $4.68. The stock has a market cap of $747.45 million, a price-to-earnings ratio of -4.36 and a beta of 0.93.
Ferroglobe (NASDAQ:GSM – Get Free Report) last issued its earnings results on Wednesday, February 18th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $329.38 million during the quarter, compared to the consensus estimate of $293.60 million. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. Research analysts expect that Ferroglobe PLC will post 0.33 EPS for the current year.
Ferroglobe Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 23rd were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, March 23rd. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio is -6.52%.
Insider Buying and Selling at Ferroglobe
In other news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the transaction, the director directly owned 121,226 shares in the company, valued at $467,932.36. This represents a 27.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Madrid Javier Lopez acquired 26,000 shares of Ferroglobe stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of $3.86 per share, with a total value of $100,360.00. Following the transaction, the chairman owned 147,200 shares in the company, valued at approximately $568,192. This trade represents a 21.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 13.07% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Ferroglobe
Several institutional investors have recently made changes to their positions in GSM. Lombard Odier Asset Management USA Corp purchased a new position in shares of Ferroglobe during the second quarter worth approximately $1,833,000. Donald Smith & CO. Inc. increased its holdings in Ferroglobe by 19.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock valued at $28,667,000 after purchasing an additional 1,288,610 shares during the period. Ardsley Advisory Partners LP lifted its stake in Ferroglobe by 11.4% in the second quarter. Ardsley Advisory Partners LP now owns 2,007,595 shares of the basic materials company’s stock worth $7,368,000 after acquiring an additional 205,000 shares during the period. Ballast Asset Management LP boosted its stake in shares of Ferroglobe by 5.0% during the 2nd quarter. Ballast Asset Management LP now owns 848,087 shares of the basic materials company’s stock valued at $3,112,000 after purchasing an additional 40,676 shares in the last quarter. Finally, Grizzlyrock Capital LLC boosted its position in shares of Ferroglobe by 4.3% during the second quarter. Grizzlyrock Capital LLC now owns 4,540,272 shares of the basic materials company’s stock valued at $16,663,000 after purchasing an additional 187,000 shares in 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.