Insider Selling: Ferroglobe (NASDAQ:GSM) Insider Sells $138,855.60 in Stock

Key Points

• Insider sale: Ferroglobe insider Cos Muntanola Beatriz Garcia sold 32,292 shares for approximately $138,856, reducing her position by 50.47% to 31,693 shares.
• Stock performance and outlook: GSM fell 7.0% to $3.77, while analysts maintained a consensus “Hold” rating with an average price target of $6.00.
• Dividend and ownership: Ferroglobe declared a quarterly dividend of $0.015 per share, equivalent to a 1.6% annualized yield; institutional investors own 89.64% of the company.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the sale, the insider owned 31,693 shares of the company's stock, valued at $136,279.90. This trade represents a 50.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ferroglobe Trading Down 7.0%

GSM traded down $0.28 during trading hours on Thursday, reaching $3.77. 267,472 shares of the company's stock traded hands, compared to its average volume of 1,445,809. The firm has a 50-day moving average price of $3.65 and a 200 day moving average price of $4.19. The firm has a market capitalization of $702.66 million, a PE ratio of -17.11 and a beta of 1.02. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. Ferroglobe PLC has a 52-week low of $3.08 and a 52-week high of $5.74.

Ferroglobe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.6%. Ferroglobe's payout ratio is -27.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings lowered Ferroglobe from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Ferroglobe from a "buy" rating to a "hold" rating in a report on Sunday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.00.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds have recently made changes to their positions in the stock. Hosking Partners LLP raised its holdings in Ferroglobe by 3.1% in the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company's stock worth $52,040,000 after purchasing an additional 341,194 shares in the last quarter. Bastion Asset Management Inc. purchased a new position in shares of Ferroglobe in the 1st quarter worth approximately $4,155,000. Sei Investments Co. raised its stake in shares of Ferroglobe by 67.0% during the 1st quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company's stock worth $2,634,000 after acquiring an additional 256,449 shares in the last quarter. CenterBook Partners LP lifted its position in Ferroglobe by 59.1% during the fourth quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company's stock valued at $6,840,000 after acquiring an additional 547,847 shares during the last quarter. Finally, West Tower Group LLC purchased a new stake in Ferroglobe during the fourth quarter valued at approximately $581,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company's core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe's product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.

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