Insider Buying: Ferroglobe (NASDAQ:GSM) Director Buys $75,118.02 in Stock

Key Points

• Director De Fuentes Silvia Villar-Mir bought 28,671 shares for $75,118 at an average price of $2.62, increasing her holdings by 28.75% to 128,399 shares.
• Ferroglobe reported a quarterly loss of $0.06 per share, missing the $0.04 loss analysts expected; revenue of $369.76 million also fell short of estimates.
• The company announced a quarterly dividend of $0.015 per share, equivalent to a 2.1% annualized yield. Analyst sentiment was mixed, with a consensus “Reduce” rating and a $5 price target.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) Director De Fuentes Silvia Villar-Mir bought 28,671 shares of the stock in a transaction dated Friday, November 6th. The stock was bought at an average cost of $2.62 per share, for a total transaction of $75,118.02. Following the acquisition, the director directly owned 128,399 shares of the company's stock, valued at approximately $336,405.38. This represents a 28.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ferroglobe Stock Up 4.0%

Shares of NASDAQ GSM opened at $2.87 on Thursday. Ferroglobe PLC has a 12-month low of $2.50 and a 12-month high of $5.66. The stock has a market capitalization of $535.62 million, a price-to-earnings ratio of 17.94 and a beta of 1.21. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The firm's 50-day moving average price is $4.00 and its 200-day moving average price is $4.15.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $369.76 million for the quarter, compared to analysts' expectations of $382.80 million. Ferroglobe had a net margin of 2.13% and a negative return on equity of 5.15%. On average, equities research analysts anticipate that Ferroglobe PLC will post -0.05 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 22nd will be paid a dividend of $0.0150 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 22nd. Ferroglobe's dividend payout ratio is 37.50%.

Analyst Ratings Changes

A number of equities research analysts recently commented on GSM shares. Jefferies Financial Group set a $5.00 target price on shares of Ferroglobe in a research report on Friday, November 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ferroglobe in a report on Monday, November 2nd. Wall Street Zen raised shares of Ferroglobe from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Finally, Needham & Company LLC set a $5.00 price target on Ferroglobe in a research report on Friday, November 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ferroglobe presently has an average rating of "Reduce" and a consensus price target of $5.00.

Hedge Funds Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GSM. Covestor Ltd boosted its holdings in Ferroglobe by 28.4% in the 3rd quarter. Covestor Ltd now owns 22,418 shares of the basic materials company's stock valued at $89,000 after purchasing an additional 4,952 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of Ferroglobe during the third quarter worth approximately $48,000. PDT Partners LLC purchased a new stake in Ferroglobe during the 2nd quarter worth about $44,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Ferroglobe by 10.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company's stock valued at $649,000 after buying an additional 14,422 shares in the last quarter. Finally, Abel Hall LLC acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 89.64% of the company's stock.

About Ferroglobe

Ferroglobe plc produces silicon metal, silicon-based alloys and manganese-based alloys. Its products are used in industries including aluminum, steel, chemicals and energy. Silicon metal is an important input for aluminum alloys, silicones and polysilicon, while the company's alloys are used in steelmaking and other metallurgical applications. Ferroglobe serves customers in markets around the world. The company was formed in 2015 through the merger of Globe Specialty Metals and Grupo FerroAtlántica.

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