Ferroglobe (NASDAQ:GSM) Shares Down 3.9%

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) were down 3.9% during trading on Thursday . The company traded as low as $5.35 and last traded at $5.36. Approximately 333,021 shares changed hands during trading, a decline of 79% from the average daily volume of 1,592,181 shares. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

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

Ferroglobe Trading Down 2.5 %

The stock's 50 day moving average price is $4.86 and its 200-day moving average price is $5.24. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.02 billion, a PE ratio of 11.65 and a beta of 2.01.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $375.95 million during the quarter, compared to analysts' expectations of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. On average, sell-side analysts expect that Ferroglobe PLC will post 0.26 earnings per share for the current fiscal year.

Ferroglobe Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd were paid a $0.013 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.96%. Ferroglobe's dividend payout ratio (DPR) is presently 10.87%.

Institutional Trading of Ferroglobe

Hedge funds and other institutional investors have recently modified their holdings of the company. Orchard Capital Management LLC bought a new position in shares of Ferroglobe during the fourth quarter worth $6,777,000. Grizzlyrock Capital LLC bought a new position in shares of Ferroglobe during the fourth quarter worth $19,467,000. Masters Capital Management LLC boosted its position in shares of Ferroglobe by 9.8% during the fourth quarter. Masters Capital Management LLC now owns 2,300,000 shares of the basic materials company's stock worth $14,973,000 after acquiring an additional 205,000 shares during the last quarter. Appian Way Asset Management LP bought a new position in shares of Ferroglobe during the fourth quarter worth $5,435,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Ferroglobe during the fourth quarter worth $1,687,000. 89.64% of the stock is owned by hedge funds and other 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.