Ferroglobe (NASDAQ:GSM) Shares Pass Above 200-Day Moving Average - What's Next?

Ferroglobe PLC (NASDAQ:GSM - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.80 and traded as high as $3.87. Ferroglobe shares last traded at $3.70, with a volume of 1,598,688 shares traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on GSM. Seaport Res Ptn cut Ferroglobe from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Wall Street Zen upgraded Ferroglobe from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

Ferroglobe Stock Up 0.5%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.66 and a quick ratio of 1.00. The company has a market cap of $683.07 million, a PE ratio of -11.09 and a beta of 1.58. The business's 50 day moving average is $3.74 and its 200-day moving average is $3.79.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The firm had revenue of $307.18 million for the quarter, compared to analyst estimates of $336.00 million. Ferroglobe had a positive return on equity of 1.93% and a negative net margin of 3.80%. As a group, analysts predict that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th will be issued a $0.014 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.53%. Ferroglobe's payout ratio is currently -18.18%.

Institutional Trading of Ferroglobe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSM. Donald Smith & CO. Inc. grew its position in shares of Ferroglobe by 852.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company's stock valued at $22,614,000 after buying an additional 5,326,051 shares during the last quarter. CenterBook Partners LP acquired a new position in Ferroglobe in the fourth quarter valued at $8,363,000. Hosking Partners LLP grew its holdings in shares of Ferroglobe by 18.1% during the first quarter. Hosking Partners LLP now owns 10,633,729 shares of the basic materials company's stock worth $39,451,000 after purchasing an additional 1,629,431 shares during the last quarter. Lloyd Harbor Capital Management LLC acquired a new stake in shares of Ferroglobe during the fourth quarter worth about $5,605,000. Finally, Boston Partners lifted its holdings in shares of Ferroglobe by 622.2% in the 1st quarter. Boston Partners now owns 1,548,152 shares of the basic materials company's stock valued at $5,743,000 after purchasing an additional 1,333,772 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.