Ferroglobe (NASDAQ:GSM) Shares Break Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Ferroglobe shares crossed above their 200-day moving average, reaching $4.26 before closing at $4.19 on trading volume of approximately 1.08 million shares.
• Analyst sentiment remains mixed: the stock carries an average “Hold” rating and a consensus price target of $6.00, with one Buy, one Hold and one Sell rating.
• The company paid a quarterly dividend of $0.015 per share, equivalent to a $0.06 annualized dividend and a 1.4% yield; an insider also sold 32,292 shares in August.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.02 and traded as high as $4.26. Ferroglobe shares last traded at $4.19, with a volume of 1,075,769 shares trading hands.

Analyst Ratings Changes

GSM has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Ferroglobe from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Weiss Ratings downgraded Ferroglobe from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ferroglobe presently has an average rating of "Hold" and a consensus price target of $6.00.

Ferroglobe Stock Down 3.0%

The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm's 50 day simple moving average is $4.19 and its 200-day simple moving average is $4.02. The stock has a market capitalization of $781.98 million, a price-to-earnings ratio of -19.05 and a beta of 1.06.

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were issued a $0.0150 dividend. The ex-dividend date was Tuesday, September 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. Ferroglobe's dividend payout ratio (DPR) is presently -27.27%.

Insider Activity

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the company'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 sale, the insider owned 31,693 shares in the company, valued at approximately $136,279.90. This represents a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.07% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Irenic Capital Management LP bought a new position in shares of Ferroglobe in the fourth quarter valued at $46,000. R Squared Ltd bought a new stake in Ferroglobe during the first quarter worth $44,000. PFG Investments LLC bought a new stake in Ferroglobe during the first quarter worth $45,000. Master S Wealth Management Inc. acquired a new stake in Ferroglobe in the first quarter valued at $51,000. Finally, PDT Partners LLC acquired a new stake in Ferroglobe in the second quarter valued at $44,000. 89.64% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Company Profile

Ferroglobe PLC NASDAQ: GSM is a global producer of silicon and manganese-based products used in the manufacture of aluminum, steel, silicones and other industrial materials. Its product portfolio includes silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloys, as well as silica fume and related products.

The company serves customers across industries such as automotive, construction, renewable energy, consumer products and chemicals. Its materials are used to improve the strength and performance of steel and aluminum, support silicone production and contribute to other metallurgical and industrial applications.

Ferroglobe was formed in 2015 through the combination of Globe Specialty Metals and Grupo FerroAtlántica.

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