Ferroglobe (NASDAQ:GSM) Trading Up 5.5% Following Insider Buying Activity

Shares of Ferroglobe PLC (NASDAQ:GSM) were up 5.5% during trading on Thursday after an insider bought additional shares in the company. The company traded as high as $4.57 and last traded at $4.4320. Approximately 257,728 shares changed hands during trading, a decline of 80% from the average daily volume of 1,315,898 shares. The stock had previously closed at $4.20.

Specifically, Chairman Madrid Javier Lopez acquired 26,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was acquired at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the acquisition, the chairman directly owned 147,200 shares in the company, valued at approximately $568,192. This represents a 21.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of Ferroglobe stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average price of $3.86 per share, for a total transaction of $100,360.00. Following the acquisition, the director directly owned 121,226 shares of the company’s stock, valued at $467,932.36. The trade was a 27.30% increase in their position. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

A number of research firms have issued reports on GSM. Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ferroglobe presently has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Stock Performance

The stock has a 50 day simple moving average of $4.84 and a 200 day simple moving average of $4.67. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The company has a market cap of $798.78 million, a price-to-earnings ratio of -4.65 and a beta of 0.93.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $329.38 million for the quarter, compared to the consensus estimate of $293.60 million. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%. As a group, analysts predict that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be paid a dividend of $0.015 per share. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, March 23rd. Ferroglobe’s payout ratio is -6.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Ferroglobe in the third quarter valued at $32,000. California State Teachers Retirement System purchased a new stake in Ferroglobe during the 2nd quarter worth $27,000. Quadrant Capital Group LLC increased its stake in Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after buying an additional 3,146 shares during the period. Spire Wealth Management lifted its holdings in Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after buying an additional 2,740 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in Ferroglobe in the 4th quarter worth $46,000. 89.64% of the stock is owned by institutional investors and hedge funds.

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.