Ferroglobe PLC (NASDAQ:GSM) Shareholders to Receive $0.01 Quarterly Dividend

Key Points

• Ferroglobe declared a quarterly dividend of $0.015 per share, equivalent to $0.06 annually and a stated 1.6% yield; shareholders of record December 22 are scheduled to be paid December 30.
• The dividend appears well covered: the current payout ratio is 10%, and analysts expect a 14.6% payout ratio based on next year’s projected earnings.
• Ferroglobe missed quarterly expectations, reporting a loss of $0.06 per share versus the $0.04 loss analysts anticipated, while revenue of $369.76 million also came in below estimates.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Tuesday, December 22nd will be given a dividend of $0.0150 per share by the basic materials company on Wednesday, December 30th. This represents a $0.06 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, December 22nd.

Ferroglobe has a payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 14.6%.

Ferroglobe Trading Up 0.5%

Ferroglobe stock opened at $3.86 on Wednesday. Ferroglobe has a 12-month low of $3.08 and a 12-month high of $5.66. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average price is $4.16 and its 200 day moving average price is $4.22.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $369.76 million for the quarter, compared to analysts' expectations of $382.80 million. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%. Analysts anticipate that Ferroglobe will post -0.05 earnings per share for the current fiscal year.

Insider Transactions at Ferroglobe

In other news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of Ferroglobe stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the transaction, the insider owned 31,693 shares of the company's stock, valued at $136,279.90. The trade was a 50.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.07% of the stock is currently owned by insiders.

Institutional Trading of Ferroglobe

A number of hedge funds have recently made changes to their positions in the stock. Donald Smith & CO. Inc. acquired a new stake in Ferroglobe in the 2nd quarter valued at about $25,843,000. Bastion Asset Management Inc. acquired a new position in shares of Ferroglobe during the first quarter worth approximately $4,155,000. Sei Investments Co. grew its stake in shares of Ferroglobe by 67.0% during the first quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company's stock valued at $2,634,000 after purchasing an additional 256,449 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Ferroglobe during the second quarter valued at approximately $544,000. Finally, SummerHaven Investment Management LLC acquired a new stake in shares of Ferroglobe in the third quarter valued at approximately $530,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

About Ferroglobe

Ferroglobe PLC NASDAQ: GSM is a global producer of silicon and manganese-based alloys. The company manufactures silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloy products used in the production of steel, aluminum, silicones, solar materials and other industrial goods.

Ferroglobe also operates quartz resources and produces related raw materials used in its alloy manufacturing processes. Its products support several industries, including automotive, construction, energy, chemicals, electronics and renewable energy.

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