Ferroglobe (NASDAQ:GSM) Stock Price Up 4.3% – Time to Buy?

Ferroglobe PLC (NASDAQ:GSM) rose 4.3% during trading on Thursday . The company traded as high as $3.44 and last traded at $3.51. Approximately 68,038 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 769,507 shares. The stock had previously closed at $3.36.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GSM shares. Seaport Res Ptn cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.

Ferroglobe Stock Up 10.9 %

The company has a market cap of $699.87 million, a PE ratio of 185.25 and a beta of 1.83. The business has a 50-day simple moving average of $3.85 and a 200-day simple moving average of $4.15. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02.

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

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 20th will be paid a dividend of $0.014 per share. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.50%. The ex-dividend date is Thursday, March 20th. Ferroglobe’s dividend payout ratio is presently 250.00%.

Institutional Trading of Ferroglobe

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cooper Creek Partners Management LLC boosted its holdings in shares of Ferroglobe by 2.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company’s stock valued at $56,964,000 after buying an additional 291,201 shares in the last quarter. Hosking Partners LLP increased its position in shares of Ferroglobe by 1.8% during the fourth quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after purchasing an additional 159,845 shares in the last quarter. Wolf Hill Capital Management LP raised its position in Ferroglobe by 11.0% in the 4th quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company’s stock valued at $27,499,000 after purchasing an additional 714,726 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Ferroglobe by 852.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company’s stock valued at $22,614,000 after buying an additional 5,326,051 shares during the last quarter. Finally, Old West Investment Management LLC raised its holdings in Ferroglobe by 233.4% during the third quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock worth $17,439,000 after purchasing an additional 2,631,024 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

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.