Ferroglobe (NASDAQ:GSM) Stock Price Up 3%

Ferroglobe PLC (NASDAQ:GSM - Get Free Report)'s stock price shot up 3% on Wednesday . The company traded as high as $5.23 and last traded at $5.20. 69,651 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,565,259 shares. The stock had previously closed at $5.05.

Wall Street Analysts Forecast Growth

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

Ferroglobe Stock Performance

The firm has a market capitalization of $935.28 million, a PE ratio of 11.28 and a beta of 2.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32. The company's fifty day simple moving average is $4.87 and its 200 day simple moving average is $5.24.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $375.95 million for the quarter, compared to the consensus estimate of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. As a group, equities research analysts expect that Ferroglobe PLC will post 0.26 EPS for the current fiscal year.

Ferroglobe Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, March 21st. Ferroglobe's dividend payout ratio (DPR) is presently 10.87%.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Ferroglobe by 4.6% during the first quarter. State Street Corp now owns 33,691 shares of the basic materials company's stock valued at $259,000 after buying an additional 1,477 shares during the period. Osaic Holdings Inc. increased its position in shares of Ferroglobe by 38.1% during the second quarter. Osaic Holdings Inc. now owns 7,554 shares of the basic materials company's stock valued at $36,000 after buying an additional 2,083 shares during the period. WINTON GROUP Ltd increased its position in shares of Ferroglobe by 4.2% during the third quarter. WINTON GROUP Ltd now owns 66,380 shares of the basic materials company's stock valued at $345,000 after buying an additional 2,682 shares during the period. Geode Capital Management LLC increased its position in shares of Ferroglobe by 3.5% during the first quarter. Geode Capital Management LLC now owns 105,632 shares of the basic materials company's stock valued at $522,000 after buying an additional 3,543 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Ferroglobe by 44,350.0% during the third quarter. Royal Bank of Canada now owns 5,334 shares of the basic materials company's stock valued at $28,000 after buying an additional 5,322 shares during the period. 89.64% of the stock is currently owned by institutional investors.

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.