Ferroglobe (NASDAQ:GSM) Stock Price Up 4.3% – Still a Buy?

Ferroglobe PLC (NASDAQ:GSM)’s share price shot up 4.3% during mid-day trading on Thursday . The company traded as high as $3.44 and last traded at $3.51. 68,038 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 769,507 shares. The stock had previously closed at $3.36.

Analyst Ratings Changes

GSM has been the topic of a number of research analyst reports. Seaport Res Ptn downgraded Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com cut shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Ferroglobe Stock Up 10.9 %

The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $699.87 million, a price-to-earnings ratio of 185.25 and a beta of 1.83. The firm has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $4.15.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $367.51 million during the quarter, compared to analyst estimates of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. As a group, sell-side analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be paid a $0.014 dividend. The ex-dividend date is Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.50%. Ferroglobe’s payout ratio is presently 250.00%.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds have recently made changes to their positions in GSM. Heck Capital Advisors LLC acquired a new stake in Ferroglobe during the 4th quarter valued at $37,000. Raymond James Financial Inc. bought a new position in shares of Ferroglobe during the fourth quarter worth about $42,000. LPL Financial LLC acquired a new position in Ferroglobe during the fourth quarter worth $42,000. Barclays PLC bought a new stake in Ferroglobe during the third quarter worth about $44,000. Finally, RPO LLC bought a new position in Ferroglobe during the fourth quarter worth about $53,000. Institutional investors own 89.64% of the company’s stock.

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.