Stock Traders Purchase Large Volume of Call Options on Ferroglobe (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) was the recipient of some unusual options trading activity on Tuesday. Traders bought 4,553 call options on the company. This is an increase of 457% compared to the average volume of 817 call options.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds have recently modified their holdings of the stock. Old West Investment Management LLC lifted its position in 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 valued at $13,495,000 after purchasing an additional 1,781,024 shares during the period. Barclays PLC purchased a new position in shares of Ferroglobe during the 3rd quarter worth approximately $44,000. State Street Corp lifted its holdings in shares of Ferroglobe by 1.6% in the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock valued at $757,000 after buying an additional 2,615 shares during the period. Hosking Partners LLP boosted its stake in shares of Ferroglobe by 1.8% in the fourth quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock valued at $34,216,000 after buying an additional 159,845 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings 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 worth $1,854,000 after acquiring an additional 368,300 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Stock Down 0.5 %

GSM stock opened at $3.79 on Thursday. The company has a market cap of $712.08 million, a price-to-earnings ratio of 189.50 and a beta of 1.89. The company has a fifty day moving average price of $3.86 and a 200 day moving average price of $4.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.00. Ferroglobe has a 12 month low of $3.23 and a 12 month high of $6.19.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $367.51 million during 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%. Sell-side analysts expect that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The business 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. The ex-dividend date was Thursday, March 20th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is presently 250.00%.

Analyst Ratings Changes

Several equities analysts have issued reports on GSM shares. StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Seaport Res Ptn downgraded Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

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.