Ferroglobe PLC (NASDAQ:GSM) to Issue $0.01 Quarterly Dividend

Key Points

• Ferroglobe PLC (NASDAQ:GSM) has declared a quarterly dividend of $0.01 per share, payable on September 29th to shareholders on record as of September 22nd, representing a 1.3% dividend yield.
• The company reported a revenue of $386.86 million for the last quarter, falling short of analyst estimates, and posted a loss of $0.08 per share, missing expectations by $0.06.
• Ferroglobe has a payout ratio of 10.0%, suggesting its dividend is well-supported by earnings, with projected future earnings expected to sustain the annual dividend of $0.06.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Monday, September 22nd will be given a dividend of 0.014 per share by the basic materials company on Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, September 22nd.

Ferroglobe has a payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ferroglobe to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 10.2%.

Ferroglobe Stock Performance

NASDAQ:GSM traded up $0.37 during midday trading on Wednesday, reaching $4.41. The stock had a trading volume of 4,652,919 shares, compared to its average volume of 1,272,301. The stock has a market capitalization of $823.04 million, a P/E ratio of -13.36 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.66 and a quick ratio of 1.00. Ferroglobe has a 1-year low of $2.97 and a 1-year high of $5.12. The firm's fifty day simple moving average is $4.10 and its 200-day simple moving average is $3.85.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The firm had revenue of $386.86 million during the quarter, compared to analyst estimates of $398.00 million. Ferroglobe had a negative net margin of 3.80% and a positive return on equity of 1.93%. On average, equities research analysts forecast that Ferroglobe will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cooper Creek Partners Management LLC raised its holdings in Ferroglobe by 2.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company's stock worth $56,964,000 after purchasing an additional 291,201 shares during the period. Hosking Partners LLP lifted its holdings in shares of Ferroglobe by 18.1% during the 1st quarter. Hosking Partners LLP now owns 10,633,729 shares of the basic materials company's stock valued at $39,451,000 after purchasing an additional 1,629,431 shares in the last quarter. Wolf Hill Capital Management LP increased its stake in Ferroglobe by 11.0% during the 4th quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company's stock worth $27,499,000 after purchasing an additional 714,726 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in Ferroglobe by 9.6% during the 1st quarter. Donald Smith & CO. Inc. now owns 6,522,510 shares of the basic materials company's stock worth $24,199,000 after buying an additional 571,459 shares during the period. Finally, Old West Investment Management LLC boosted its holdings in shares of Ferroglobe by 58.7% in the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company's stock valued at $12,747,000 after buying an additional 1,270,625 shares during the period. Institutional investors and hedge funds 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.

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