Stock Traders Purchase High Volume of Put Options on Ferroglobe (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) was the target of unusually large options trading on Tuesday. Stock investors purchased 8,391 put options on the company. This is an increase of 265% compared to the typical volume of 2,301 put options.

Analyst Ratings Changes

Separately, StockNews.com upgraded Ferroglobe from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM remained flat at $5.01 during midday trading on Tuesday. The stock had a trading volume of 388,302 shares, compared to its average volume of 1,529,937. The firm has a market capitalization of $939.02 million, a PE ratio of 10.89 and a beta of 2.01. The stock’s fifty day moving average is $4.86 and its 200 day moving average is $5.24. Ferroglobe has a 12 month low of $3.95 and a 12 month high of $6.78. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.22.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $375.95 million during the quarter, compared to analysts’ expectations of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. As a group, analysts anticipate 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 issued a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, March 21st. Ferroglobe’s dividend payout ratio is presently 10.87%.

Institutional Trading of Ferroglobe

A number of institutional investors have recently bought and sold shares of GSM. Stratos Wealth Partners LTD. bought a new stake in Ferroglobe during the 3rd quarter worth about $771,000. General American Investors Co. Inc. bought a new position in Ferroglobe in the 3rd quarter valued at approximately $4,829,000. Victory Capital Management Inc. acquired a new position in Ferroglobe in the 3rd quarter valued at approximately $944,000. Fox Run Management L.L.C. acquired a new position in Ferroglobe in the 3rd quarter valued at approximately $79,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Ferroglobe during the third quarter worth $47,000. Institutional investors and hedge funds 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.