Stock Traders Purchase Large Volume of Ferroglobe Call Options (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors bought 7,149 call options on the company. This represents an increase of approximately 236% compared to the average volume of 2,128 call options.

Ferroglobe Stock Performance

GSM stock traded up $0.33 during midday trading on Wednesday, hitting $5.58. 8,204,041 shares of the stock traded hands, compared to its average volume of 1,611,057. The stock's fifty day simple moving average is $4.86 and its 200-day simple moving average is $5.24. The firm has a market cap of $1.05 billion, a P/E ratio of 12.13 and a beta of 2.01. Ferroglobe has a 1-year low of $3.95 and a 1-year high of $6.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. The company had revenue of $375.95 million for the quarter, compared to the consensus estimate of $318.80 million. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. On average, analysts expect that Ferroglobe will post 0.26 earnings per share for the current year.

Ferroglobe Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd were given a $0.013 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.05 annualized dividend and a dividend yield of 0.93%. Ferroglobe's dividend payout ratio (DPR) is 10.87%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its stake in Ferroglobe by 4.6% during the 1st quarter. State Street Corp now owns 33,691 shares of the basic materials company's stock worth $259,000 after purchasing an additional 1,477 shares during the last quarter. Osaic Holdings Inc. grew its stake in Ferroglobe by 38.1% during the 2nd quarter. Osaic Holdings Inc. now owns 7,554 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 2,083 shares in the last quarter. WINTON GROUP Ltd raised its holdings in Ferroglobe by 4.2% in the 3rd quarter. WINTON GROUP Ltd now owns 66,380 shares of the basic materials company's stock valued at $345,000 after acquiring an additional 2,682 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ferroglobe by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 105,632 shares of the basic materials company's stock worth $522,000 after purchasing an additional 3,543 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Ferroglobe by 44,350.0% during the 3rd quarter. Royal Bank of Canada now owns 5,334 shares of the basic materials company's stock worth $28,000 after purchasing an additional 5,322 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ferroglobe from a "hold" rating to a "buy" rating in a research report on Tuesday, March 26th.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.