Ferroglobe (NASDAQ:GSM) Sets New 1-Year Low – What’s Next?

Ferroglobe PLC (NASDAQ:GSM) shares hit a new 52-week low during trading on Friday . The company traded as low as $3.19 and last traded at $3.33, with a volume of 812285 shares traded. The stock had previously closed at $3.44.

Wall Street Analyst Weigh In

GSM has been the subject of a number of recent research reports. StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th.

Ferroglobe Price Performance

The firm has a 50 day moving average of $3.80 and a 200-day moving average of $4.08. The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The company has a market cap of $629.41 million, a P/E ratio of 167.50 and a beta of 1.89.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. The firm had revenue of $367.51 million for the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. On average, equities research analysts predict that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.67%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, March 20th. Ferroglobe’s payout ratio is 250.00%.

Hedge Funds Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of Ferroglobe by 78.1% during the 3rd quarter. HighTower Advisors LLC now owns 28,103 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 12,326 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Ferroglobe by 1,180.4% during 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. State Street Corp lifted its position in Ferroglobe by 1.6% during the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 2,615 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Ferroglobe in the 3rd quarter worth $150,000. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Ferroglobe in the 3rd quarter worth about $99,000. 89.64% of the stock is 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.