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

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Monday, August 5th, Zacks reports. Investors of record on Friday, September 20th will be given a dividend of 0.013 per share by the basic materials company on Friday, September 27th. This represents a $0.05 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, September 20th.

Ferroglobe has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.57 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 8.8%.

Ferroglobe Stock Performance

NASDAQ GSM traded down $0.12 on Wednesday, reaching $4.68. 189,029 shares of the company’s stock traded hands, compared to its average volume of 1,392,541. The firm has a market cap of $877.19 million, a price-to-earnings ratio of 13.76 and a beta of 1.87. The stock has a 50 day moving average price of $5.53 and a 200-day moving average price of $5.27. Ferroglobe has a fifty-two week low of $4.26 and a fifty-two week high of $6.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.74.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $451.05 million during the quarter, compared to the consensus estimate of $425.55 million. Ferroglobe had a net margin of 3.92% and a return on equity of 15.06%. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities research analysts predict that Ferroglobe will post 0.24 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.

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.