Ferroglobe (NASDAQ:GSM) Trading Up 8% - Here's What Happened

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) traded up 8% on Tuesday . The company traded as high as $3.95 and last traded at $3.97. 1,013,170 shares were traded during mid-day trading, a decline of 15% from the average session volume of 1,194,583 shares. The stock had previously closed at $3.67.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a research report on Saturday, May 31st.

Ferroglobe Trading Up 2.0%

The business's 50 day simple moving average is $3.79 and its 200 day simple moving average is $3.77. 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 capitalization of $807.36 million, a price-to-earnings ratio of -13.11 and a beta of 1.57.

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

Ferroglobe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, June 18th. Ferroglobe's payout ratio is currently -18.18%.

Hedge Funds Weigh In On Ferroglobe

A number of large investors have recently bought and sold shares of GSM. New York State Common Retirement Fund raised its stake in shares of Ferroglobe by 48.9% during the 4th 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. Raymond James Financial Inc. purchased a new position in Ferroglobe in the fourth quarter worth $42,000. River Global Investors LLP purchased a new position in Ferroglobe in the fourth quarter worth $2,408,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ferroglobe in the fourth quarter valued at $393,000. Finally, First Eagle Investment Management LLC boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Company Profile

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.