Ferroglobe (NASDAQ:GSM) Trading 3.5% Higher – Still a Buy?

Ferroglobe PLC (NASDAQ:GSM) shares rose 3.5% on Friday . The company traded as high as $4.20 and last traded at $4.17. Approximately 65,654 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,356,470 shares. The stock had previously closed at $4.03.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th.

Ferroglobe Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.83 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $4.35 and its 200-day simple moving average is $4.98. The stock has a market cap of $790.95 million, a PE ratio of 17.54 and a beta of 1.88.

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

Ferroglobe Announces Dividend

The business also recently disclosed 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. This represents a $0.05 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, December 20th. Ferroglobe’s payout ratio is currently 20.83%.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hosking Partners LLP raised its holdings in Ferroglobe by 48.7% in the second quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock worth $48,824,000 after buying an additional 2,981,907 shares during the last quarter. Old West Investment Management LLC boosted its stake in Ferroglobe by 233.4% during the 3rd quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock valued at $17,439,000 after purchasing an additional 2,631,024 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Ferroglobe by 234.5% in the 3rd quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock worth $15,958,000 after purchasing an additional 2,442,507 shares in the last quarter. Thomist Capital Management LP raised its stake in shares of Ferroglobe by 159.3% in the second quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company’s stock worth $18,031,000 after purchasing an additional 1,924,879 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Ferroglobe by 15.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,621,112 shares of the basic materials company’s stock valued at $40,849,000 after purchasing an additional 1,003,918 shares in the last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Company Profile

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.