Ferroglobe PLC Announces Quarterly Dividend of $0.01 (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 20th will be paid a dividend of 0.013 per share by the basic materials company on Friday, December 27th. This represents a $0.05 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, December 20th.

Ferroglobe has a payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 10.2%.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM traded down $0.14 during trading on Friday, hitting $4.20. The company’s stock had a trading volume of 104,028 shares, compared to its average volume of 1,356,640. The company has a 50-day moving average of $4.37 and a 200-day moving average of $5.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91. The firm has a market cap of $787.21 million, a price-to-earnings ratio of 12.40 and a beta of 1.88. Ferroglobe has a 12 month low of $4.07 and a 12 month high of $6.78.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $451.05 million for the quarter, compared to the consensus estimate of $425.55 million. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. During the same quarter last year, the company earned $0.30 earnings per share. On average, sell-side analysts expect that Ferroglobe will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

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

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.