Ferroglobe PLC (GSM) to Issue Quarterly Dividend of $0.01 on March 26th

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Thursday, March 20th will be paid a dividend of 0.014 per share by the basic materials company on Wednesday, March 26th. This represents a $0.06 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01.

Ferroglobe has a payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Ferroglobe to earn $0.59 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 8.5%.

Ferroglobe Price Performance

NASDAQ:GSM opened at $3.49 on Friday. Ferroglobe has a one year low of $3.45 and a one year high of $6.19. The stock has a market cap of $654.76 million, a PE ratio of 174.25 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The stock has a 50 day moving average price of $3.93 and a 200 day moving average price of $4.23.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The business had revenue of $367.51 million during the quarter, compared to the consensus estimate of $393.00 million. Equities research analysts expect that Ferroglobe will post 0.33 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 note on Friday.

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.