Ferroglobe (NASDAQ:GSM) Shares Up 5.2% - Here's What Happened

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) traded up 5.2% during trading on Wednesday . The company traded as high as $3.85 and last traded at $3.86. 174,409 shares changed hands during trading, a decline of 85% from the average session volume of 1,132,353 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Seaport Res Ptn lowered shares of Ferroglobe from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Wall Street Zen upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

Ferroglobe Trading Up 3.7%

The stock has a market cap of $780.10 million, a price-to-earnings ratio of 209.00 and a beta of 1.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.82. The company's 50 day simple moving average is $3.61 and its two-hundred day simple moving average is $3.84.

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 for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The company had revenue of $307.18 million during the quarter, compared to analyst estimates of $336.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. Research analysts expect that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Wednesday, June 18th will be paid a $0.014 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.06 annualized dividend and a yield of 1.34%. Ferroglobe's dividend payout ratio is presently -15.15%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Hosking Partners LLP increased its stake in shares of Ferroglobe by 1.8% during the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company's stock worth $34,216,000 after purchasing an additional 159,845 shares during the last quarter. Lloyd Harbor Capital Management LLC acquired a new position in shares of Ferroglobe during the 4th quarter worth $5,605,000. Donald Smith & CO. Inc. increased its stake in shares of Ferroglobe by 852.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company's stock worth $22,614,000 after purchasing an additional 5,326,051 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Ferroglobe by 10.8% during the 4th quarter. First Eagle Investment Management LLC now owns 2,030,772 shares of the basic materials company's stock worth $7,717,000 after purchasing an additional 197,317 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Ferroglobe by 43.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,193,272 shares of the basic materials company's stock worth $4,534,000 after purchasing an additional 359,807 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.