Ferroglobe (NASDAQ:GSM) Lifted to “Buy” at StockNews.com

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

Ferroglobe Price Performance

Shares of Ferroglobe stock opened at $6.05 on Monday. The business has a 50 day moving average of $5.19 and a 200 day moving average of $5.36. Ferroglobe has a 52 week low of $4.18 and a 52 week high of $6.78. The company has a market cap of $1.13 billion, a PE ratio of 17.79 and a beta of 1.99. The company has a quick ratio of 1.02, a current ratio of 1.74 and a debt-to-equity ratio of 0.02.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Ferroglobe had a net margin of 3.92% and a return on equity of 15.06%. The business had revenue of $375.95 million during the quarter, compared to analyst estimates of $318.80 million. As a group, equities research analysts forecast that Ferroglobe will post 0.24 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 17th will be given a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, June 17th. Ferroglobe’s dividend payout ratio is currently 14.71%.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds have recently bought and sold shares of GSM. Grizzlyrock Capital LLC bought a new position in shares of Ferroglobe during the fourth quarter valued at $19,467,000. Hosking Partners LLP raised its holdings in Ferroglobe by 29.8% in the first quarter. Hosking Partners LLP now owns 6,127,015 shares of the basic materials company’s stock worth $30,513,000 after buying an additional 1,407,079 shares during the last quarter. Tyro Capital Management LLC bought a new position in shares of Ferroglobe in the fourth quarter worth approximately $7,228,000. Orchard Capital Management LLC purchased a new stake in shares of Ferroglobe during the fourth quarter valued at approximately $6,777,000. Finally, Masters Capital Management LLC increased its position in shares of Ferroglobe by 37.0% during the first quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company’s stock valued at $15,687,000 after acquiring an additional 850,000 shares in the last quarter. 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.