Ferroglobe (NASDAQ:GSM) Trading 6.6% Higher - Still a Buy?

Key Points

• Ferroglobe shares rose 6.6% to about $4.30, although trading volume was 68% below the average session level.
• Analyst sentiment is mixed: one analyst rates the stock Buy, one Hold and one Sell, producing a consensus Hold rating with a $6.00 average price target.
• The company declared a quarterly dividend of $0.015 per share, or $0.06 annualized, representing a 1.4% yield; institutional investors own approximately 89.6% of outstanding shares.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report)'s stock price traded up 6.6% on Wednesday . The stock traded as high as $4.28 and last traded at $4.2960. 459,819 shares traded hands during trading, a decline of 68% from the average session volume of 1,428,339 shares. The stock had previously closed at $4.03.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GSM shares. Weiss Ratings downgraded shares of Ferroglobe from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Ferroglobe from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $6.00.

Ferroglobe Trading Up 7.8%

The stock has a market cap of $810.91 million, a PE ratio of -19.75 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.29. The company has a 50 day moving average of $3.67 and a two-hundred day moving average of $4.12.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.4%. Ferroglobe's dividend payout ratio (DPR) is -27.27%.

Insider Transactions at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the completion of the sale, the insider owned 31,693 shares of the company's stock, valued at approximately $136,279.90. The trade was a 50.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.07% of the company's stock.

Institutional Trading of Ferroglobe

Several institutional investors have recently modified their holdings of the stock. Hosking Partners LLP boosted its stake in shares of 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 acquiring an additional 341,194 shares during the last quarter. Bastion Asset Management Inc. acquired a new position in Ferroglobe in the 1st quarter valued at $4,155,000. Donald Smith & CO. Inc. acquired a new position in Ferroglobe in the 2nd quarter valued at $25,843,000. Sei Investments Co. raised its stake in Ferroglobe by 67.0% in the 1st quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company's stock valued at $2,634,000 after purchasing an additional 256,449 shares during the last quarter. Finally, CenterBook Partners LP lifted its holdings in Ferroglobe by 59.1% in the 4th quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company's stock valued at $6,840,000 after purchasing an additional 547,847 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company's stock.

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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