Ferroglobe (NASDAQ:GSM) Hits New 52-Week Low at $4.09

Ferroglobe PLC (NASDAQ:GSM) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.09 and last traded at $4.13, with a volume of 820031 shares traded. The stock had previously closed at $4.19.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th.

Ferroglobe Stock Down 1.4 %

The firm has a market capitalization of $774.09 million, a PE ratio of 12.09 and a beta of 1.83. The stock has a 50-day simple moving average of $5.00 and a 200-day simple moving average of $5.14. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05. The company had revenue of $451.05 million during the quarter, compared to analyst estimates of $425.55 million. Ferroglobe had a return on equity of 11.27% and a net margin of 4.11%. During the same quarter last year, the firm posted $0.30 EPS. Analysts forecast that Ferroglobe PLC will post 0.28 EPS for the current year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be paid a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, September 20th. Ferroglobe’s payout ratio is currently 14.71%.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds have recently made changes to their positions in GSM. Covestor Ltd increased its holdings in Ferroglobe by 266.1% during the 1st quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 3,864 shares during the period. Virtu Financial LLC bought a new position in shares of Ferroglobe in the first quarter worth $53,000. Legacy Capital Group California Inc. purchased a new stake in shares of Ferroglobe in the second quarter worth $60,000. Hood River Capital Management LLC bought a new stake in Ferroglobe during the first quarter valued at $73,000. Finally, Banco Santander S.A. purchased a new position in Ferroglobe during the second quarter worth about $80,000. 89.64% of the stock is currently 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.