Ferroglobe (NASDAQ:GSM) Sets New 12-Month Low – Here’s Why

Ferroglobe PLC (NASDAQ:GSM) reached a new 52-week low during trading on Tuesday . The company traded as low as $3.99 and last traded at $4.02, with a volume of 1633646 shares trading hands. The stock had previously closed at $4.08.

Ferroglobe Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.00. The company’s 50-day moving average price is $4.35 and its two-hundred day moving average price is $4.76. The company has a market capitalization of $753.48 million, a price-to-earnings ratio of 16.88 and a beta of 1.86.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Ferroglobe had a return on equity of 7.55% and a net margin of 2.74%. The firm had revenue of $433.53 million for the quarter, compared to analysts’ expectations of $443.50 million. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate that Ferroglobe PLC will post 0.28 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be given a dividend of $0.013 per share. The ex-dividend date is Friday, December 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.29%. Ferroglobe’s payout ratio is 20.83%.

Institutional Investors Weigh In On Ferroglobe

A number of large investors have recently made changes to their positions in the business. Old West Investment Management LLC lifted its stake in shares of Ferroglobe by 158.0% in the third quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after buying an additional 1,781,024 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in Ferroglobe in the 2nd quarter worth $1,236,000. Point72 Asset Management L.P. grew its holdings in shares of Ferroglobe by 1,180.4% in the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 368,300 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in Ferroglobe during the third quarter worth approximately $2,900,000. Finally, Bank of Montreal Can increased its position in Ferroglobe by 234.5% during the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock valued at $15,958,000 after acquiring an additional 2,442,507 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.