Ferroglobe PLC (NASDAQ:GSM) Short Interest Down 9.7% in September

Ferroglobe PLC (NASDAQ:GSM) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,230,000 shares, a decline of 9.7% from the September 15th total of 2,470,000 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.0% of the company’s stock are sold short.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Ferroglobe

Several hedge funds have recently made changes to their positions in GSM. Saxon Interests Inc. acquired a new position in shares of Ferroglobe during the 1st quarter worth about $172,000. Thomist Capital Management LP boosted its position in Ferroglobe by 178.2% during the first quarter. Thomist Capital Management LP now owns 1,208,143 shares of the basic materials company’s stock valued at $6,017,000 after purchasing an additional 773,831 shares during the last quarter. Hosking Partners LLP grew its stake in Ferroglobe by 29.8% in the first quarter. Hosking Partners LLP now owns 6,127,015 shares of the basic materials company’s stock valued at $30,513,000 after purchasing an additional 1,407,079 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Ferroglobe in the first quarter valued at approximately $208,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Ferroglobe during the 1st quarter worth approximately $811,000. 89.64% of the stock is owned by institutional investors.

Ferroglobe Price Performance

GSM remained flat at $4.53 during trading on Wednesday. 1,050,147 shares of the company traded hands, compared to its average volume of 1,372,448. The stock has a market capitalization of $849.08 million, a P/E ratio of 13.32 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91. Ferroglobe has a 1-year low of $4.07 and a 1-year high of $6.78. The stock has a 50 day moving average of $4.41 and a 200-day moving average of $5.09.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The company had revenue of $451.05 million for 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 period in the previous year, the company posted $0.30 earnings per share. Sell-side analysts forecast that Ferroglobe will post 0.28 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, September 20th. Ferroglobe’s dividend payout ratio (DPR) is currently 14.71%.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.