Ferroglobe (NASDAQ:GSM) Stock Passes Above 200-Day Moving Average of $5.27

Ferroglobe PLC (NASDAQ:GSM) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.27 and traded as high as $5.40. Ferroglobe shares last traded at $5.36, with a volume of 860,655 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a report on Thursday.

Ferroglobe Price Performance

The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 11.65 and a beta of 1.99. The stock has a fifty day simple moving average of $4.92 and a 200-day simple moving average of $5.27. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. The company had revenue of $375.95 million during the quarter, compared to the consensus estimate of $318.80 million. As a group, equities research analysts expect that Ferroglobe PLC will post 0.26 EPS for the current year.

Ferroglobe Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were given a dividend of $0.013 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.05 annualized dividend and a dividend yield of 0.97%. Ferroglobe’s dividend payout ratio (DPR) is presently 10.87%.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hosking Partners LLP lifted its position in shares of Ferroglobe by 29.8% during the 1st quarter. Hosking Partners LLP now owns 6,127,015 shares of the basic materials company’s stock worth $30,513,000 after buying an additional 1,407,079 shares during the period. Boston Partners lifted its position in shares of Ferroglobe by 5.8% during the 3rd quarter. Boston Partners now owns 4,252,458 shares of the basic materials company’s stock worth $22,113,000 after buying an additional 233,114 shares during the period. Grizzlyrock Capital LLC bought a new position in shares of Ferroglobe during the 4th quarter worth approximately $19,467,000. Masters Capital Management LLC lifted its position in shares of Ferroglobe by 9.8% during the 4th quarter. Masters Capital Management LLC now owns 2,300,000 shares of the basic materials company’s stock worth $14,973,000 after buying an additional 205,000 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Ferroglobe by 20.9% during the 4th quarter. First Eagle Investment Management LLC now owns 1,492,360 shares of the basic materials company’s stock worth $9,715,000 after buying an additional 258,047 shares during the period. Institutional investors own 89.64% of the company’s stock.

About Ferroglobe

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.