Ferroglobe PLC (NASDAQ:GSM) Short Interest Down 15.5% in August

Ferroglobe PLC (NASDAQ:GSM) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,570,000 shares, a decline of 15.5% from the August 15th total of 3,040,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 2.2 days.

Ferroglobe Trading Down 0.7 %

NASDAQ GSM traded down $0.03 during trading hours on Monday, hitting $4.15. The company’s stock had a trading volume of 327,079 shares, compared to its average volume of 1,371,573. Ferroglobe has a twelve month low of $4.07 and a twelve month high of $6.78. The firm has a market capitalization of $777.85 million, a P/E ratio of 12.29 and a beta of 1.83. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $4.89 and a 200 day moving average of $5.12.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. The business had revenue of $451.05 million during the quarter, compared to analysts’ expectations of $425.55 million. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities research analysts forecast that Ferroglobe will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be paid a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, September 20th. Ferroglobe’s dividend payout ratio is currently 14.71%.

Analyst Ratings Changes

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

Institutional Trading of Ferroglobe

Hedge funds have recently added to or reduced their stakes in the company. Grizzlyrock Capital LLC acquired a new position in Ferroglobe during the 4th quarter worth approximately $19,467,000. Hosking Partners LLP grew its holdings in shares of Ferroglobe by 48.7% during the second quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock worth $48,824,000 after purchasing an additional 2,981,907 shares during the last quarter. Thomist Capital Management LP increased 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 valued at $18,031,000 after buying an additional 1,924,879 shares during the period. Tyro Capital Management LLC acquired a new stake in Ferroglobe during the 4th quarter worth approximately $7,228,000. Finally, Orchard Capital Management LLC bought a new stake in Ferroglobe during the 4th quarter worth approximately $6,777,000. 89.64% of the stock is 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.