Ferroglobe (NASDAQ:GSM) Hits New 1-Year Low – Here’s Why

Ferroglobe PLC (NASDAQ:GSM) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $3.74 and last traded at $3.75, with a volume of 553195 shares. The stock had previously closed at $3.87.

Ferroglobe Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $4.27 and its two-hundred day simple moving average is $4.67. The firm has a market cap of $710.37 million, a P/E ratio of 15.79 and a beta of 1.86.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. The company had revenue of $433.53 million for the quarter, compared to analysts’ expectations of $443.50 million. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, research analysts forecast that Ferroglobe PLC will post 0.28 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be paid a $0.013 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.05 annualized dividend and a dividend yield of 1.37%. Ferroglobe’s dividend payout ratio is presently 20.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GSM. Barclays PLC purchased a new stake in Ferroglobe in the third quarter worth approximately $44,000. Banco Santander S.A. purchased a new position in shares of Ferroglobe in the 2nd quarter worth $80,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Ferroglobe by 40.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 4,480 shares during the period. Quarry LP bought a new stake in shares of Ferroglobe in the second quarter worth $84,000. Finally, nVerses Capital LLC bought a new position in Ferroglobe in the second quarter valued at about $95,000. 89.64% of the stock is owned by institutional investors.

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.