Ferroglobe (NASDAQ:GSM) Chairman Madrid Javier Lopez Acquires 26,000 Shares

Key Points

• Chairman Madrid Javier Lopez bought 26,000 shares on March 23 at an average price of $3.86, increasing his stake by 21.45% to 147,200 shares valued at about $568,192 (SEC filing).
• Ferroglobe declared a quarterly dividend of $0.015 per share (annualized $0.06) with record/ex-dividend date March 23, up from the previous $0.01 quarterly payout and implying a ~1.4% yield.
• The company beat quarterly estimates, reporting EPS of ($0.06) vs. ($0.07) expected and revenue of $329.4M vs. $293.6M, though margins remain negative and analyst ratings are mixed with a $6.00 consensus price target.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) Chairman Madrid Javier Lopez bought 26,000 shares of the firm's stock in a transaction on Monday, March 23rd. The stock was bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the purchase, the chairman owned 147,200 shares of the company's stock, valued at $568,192. This trade represents a 21.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ferroglobe Stock Performance

Shares of Ferroglobe stock traded up $0.10 on Wednesday, reaching $4.20. 1,069,317 shares of the company were exchanged, compared to its average volume of 1,332,900. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.97 and a current ratio of 1.66. The company's 50-day moving average is $4.88 and its two-hundred day moving average is $4.68. The firm has a market cap of $783.83 million, a price-to-earnings ratio of -4.57 and a beta of 0.93. Ferroglobe PLC has a 1-year low of $2.97 and a 1-year high of $5.74.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $329.38 million during the quarter, compared to analyst estimates of $293.60 million. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%. As a group, research analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. This is a positive change from Ferroglobe's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Monday, March 23rd. Ferroglobe's dividend payout ratio is presently -6.52%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Ferroglobe from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. Weiss Ratings reissued a "sell (d)" rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ferroglobe currently has an average rating of "Hold" and a consensus price target of $6.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GSM. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ferroglobe by 14.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,968 shares of the basic materials company's stock valued at $91,000 after purchasing an additional 2,494 shares during the period. SG Americas Securities LLC lifted its holdings in Ferroglobe by 22.0% in the fourth quarter. SG Americas Securities LLC now owns 14,509 shares of the basic materials company's stock worth $67,000 after purchasing an additional 2,617 shares during the period. Covestor Ltd lifted its holdings in Ferroglobe by 23.2% in the fourth quarter. Covestor Ltd now owns 14,160 shares of the basic materials company's stock worth $66,000 after purchasing an additional 2,670 shares during the period. Spire Wealth Management grew its position in Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company's stock valued at $39,000 after buying an additional 2,740 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company's stock valued at $37,000 after buying an additional 3,146 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company's core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe's product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.

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