Ferroglobe (NASDAQ:GSM) Stock Price Up 3%

Ferroglobe PLC (NASDAQ:GSM) rose 3% during mid-day trading on Wednesday . The stock traded as high as $5.23 and last traded at $5.20. Approximately 69,651 shares changed hands during trading, a decline of 96% from the average daily volume of 1,565,259 shares. The stock had previously closed at $5.05.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th.

Ferroglobe Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32. The company’s 50-day simple moving average is $4.87 and its 200-day simple moving average is $5.24. The stock has a market capitalization of $972.76 million, a P/E ratio of 10.98 and a beta of 2.01.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $375.95 million for the quarter, compared to analyst estimates of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. As a group, sell-side analysts expect that Ferroglobe PLC will post 0.26 EPS for the current fiscal year.

Ferroglobe Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were paid a $0.013 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.05 annualized dividend and a dividend yield of 1.00%. Ferroglobe’s dividend payout ratio (DPR) is presently 10.87%.

Hedge Funds Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently modified their holdings of the business. Orchard Capital Management LLC acquired a new position in shares of Ferroglobe in the fourth quarter valued at about $6,777,000. Grizzlyrock Capital LLC acquired a new position in shares of Ferroglobe in the fourth quarter valued at about $19,467,000. Masters Capital Management LLC grew its stake in shares of Ferroglobe by 9.8% in the fourth quarter. Masters Capital Management LLC now owns 2,300,000 shares of the basic materials company’s stock valued at $14,973,000 after acquiring an additional 205,000 shares in the last quarter. Appian Way Asset Management LP acquired a new position in shares of Ferroglobe in the fourth quarter valued at about $5,435,000. Finally, Point72 Asset Management L.P. acquired a new stake in Ferroglobe during the fourth quarter worth about $1,687,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.