Ferroglobe (NASDAQ:GSM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a report released on Tuesday.

Ferroglobe Stock Performance

Shares of Ferroglobe stock opened at $4.98 on Tuesday. Ferroglobe has a one year low of $3.95 and a one year high of $6.78. The company has a market cap of $933.40 million, a price-to-earnings ratio of 10.83 and a beta of 2.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 2.10. The business’s 50 day moving average price is $4.91 and its 200 day moving average price is $5.26.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. The company had revenue of $375.95 million for the quarter, compared to the consensus estimate of $318.80 million. On average, research analysts predict that Ferroglobe will post 0.26 EPS for the current year.

Ferroglobe Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were given a $0.013 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.05 dividend on an annualized basis and a yield of 1.04%. Ferroglobe’s dividend payout ratio is currently 10.87%.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GSM. Wolf Hill Capital Management LP raised its position in Ferroglobe by 61.2% in the first quarter. Wolf Hill Capital Management LP now owns 9,377,230 shares of the basic materials company’s stock valued at $46,324,000 after purchasing an additional 3,560,697 shares during the period. Grizzlyrock Capital LLC purchased a new stake in shares of Ferroglobe in the 4th quarter valued at $19,467,000. Millennium Management LLC raised its holdings in shares of Ferroglobe by 32.5% in the 4th quarter. Millennium Management LLC now owns 5,408,473 shares of the basic materials company’s stock valued at $20,823,000 after buying an additional 1,327,742 shares during the period. Tyro Capital Management LLC purchased a new stake in shares of Ferroglobe in the 4th quarter valued at $7,228,000. Finally, Orchard Capital Management LLC purchased a new stake in shares of Ferroglobe in the 4th quarter valued at $6,777,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.