Ferroglobe (NASDAQ:GSM) Hits New 52-Week Low – Here’s What Happened

Ferroglobe PLC (NASDAQ:GSM) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $3.67 and last traded at $3.71, with a volume of 1287640 shares changing hands. The stock had previously closed at $3.82.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday.

Ferroglobe Trading Down 4.0 %

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 cap of $654.76 million, a price-to-earnings ratio of 174.25 and a beta of 1.83. The business has a fifty day simple moving average of $3.93 and a 200 day simple moving average of $4.23.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business 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%. On average, equities analysts anticipate that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be given a $0.014 dividend. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.06 annualized dividend and a yield of 1.61%. Ferroglobe’s dividend payout ratio (DPR) is 250.00%.

Hedge Funds Weigh In On Ferroglobe

Institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in shares of Ferroglobe in the fourth quarter worth about $37,000. Raymond James Financial Inc. acquired a new position in shares of Ferroglobe during the fourth quarter valued at $42,000. LPL Financial LLC bought a new position in shares of Ferroglobe during the fourth quarter worth about $42,000. Barclays PLC acquired a new stake in shares of Ferroglobe in the 3rd quarter worth about $44,000. Finally, RPO LLC bought a new stake in Ferroglobe in the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

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.