Ferroglobe (NASDAQ:GSM) Raised to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Ferroglobe (NASDAQ:GSM - Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

Separately, Seaport Res Ptn downgraded Ferroglobe from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th.

Ferroglobe Stock Performance

Shares of GSM stock traded up $0.19 on Friday, reaching $3.86. The stock had a trading volume of 1,065,441 shares, compared to its average volume of 1,133,327. Ferroglobe has a 12 month low of $2.97 and a 12 month high of $6.11. The firm has a market capitalization of $720.38 million, a price-to-earnings ratio of 193.00 and a beta of 1.69. The firm's 50-day moving average is $3.59 and its two-hundred day moving average is $3.84. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The business had revenue of $307.18 million during the quarter, compared to the consensus estimate of $336.00 million. On average, research analysts expect that Ferroglobe will post 0.33 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th will be given a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, June 18th. Ferroglobe's payout ratio is -15.15%.

Institutional Trading of Ferroglobe

Several hedge funds have recently added to or reduced their stakes in GSM. Geode Capital Management LLC increased its holdings in shares of Ferroglobe by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company's stock worth $857,000 after purchasing an additional 2,760 shares during the period. SummerHaven Investment Management LLC grew its position in Ferroglobe by 2.8% during the first quarter. SummerHaven Investment Management LLC now owns 136,756 shares of the basic materials company's stock worth $507,000 after buying an additional 3,697 shares in the last quarter. New York State Common Retirement Fund grew its position in Ferroglobe by 48.9% during the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company's stock worth $84,000 after buying an additional 7,271 shares in the last quarter. Qtron Investments LLC increased its stake in Ferroglobe by 49.7% during the 4th quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company's stock worth $85,000 after acquiring an additional 7,396 shares during the period. Finally, XTX Topco Ltd increased its stake in Ferroglobe by 23.0% during the 4th quarter. XTX Topco Ltd now owns 39,653 shares of the basic materials company's stock worth $151,000 after acquiring an additional 7,427 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.

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.