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 paid 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 1.4%. The ex-dividend date of this dividend is Monday, September 22nd.

Ferroglobe has a payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. 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

Shares of Ferroglobe stock traded down $0.14 during midday trading on Friday, hitting $4.05. The company had a trading volume of 1,503,299 shares, compared to its average volume of 1,762,603. The business's 50 day simple moving average is $4.13 and its two-hundred day simple moving average is $3.85. The stock has a market cap of $755.85 million, a PE ratio of -7.11 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 0.98. Ferroglobe has a 1-year low of $2.97 and a 1-year high of $5.12.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. The business had revenue of $386.86 million for the quarter, compared to analyst estimates of $398.00 million. As a group, equities analysts predict that Ferroglobe will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new position in shares of Ferroglobe during the fourth quarter valued at $37,000. Creative Financial Designs Inc. ADV bought a new position in shares of Ferroglobe in the first quarter valued at about $37,000. PNC Financial Services Group Inc. bought a new position in shares of Ferroglobe in the first quarter valued at about $38,000. R Squared Ltd bought a new position in shares of Ferroglobe in the second quarter valued at about $38,000. Finally, Raymond James Financial Inc. bought a new position in shares of Ferroglobe in the fourth quarter valued at about $42,000. 89.64% of the stock is owned by institutional investors.

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.