Ferroglobe (NASDAQ:GSM) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ferroglobe has an average rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Price Performance

Shares of GSM stock opened at $4.24 on Friday. Ferroglobe has a 1-year low of $3.08 and a 1-year high of $5.74. The stock’s 50-day moving average is $4.21 and its 200 day moving average is $4.02. The company has a market cap of $791.31 million, a P/E ratio of -19.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were issued a dividend of $0.0150 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 22nd. Ferroglobe’s dividend payout ratio (DPR) is -27.27%.

Insider Transactions at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the transaction, the insider directly owned 31,693 shares in the company, valued at $136,279.90. The trade was a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. acquired a new position in shares of Ferroglobe in the 2nd quarter valued at about $25,843,000. Ardsley Advisory Partners LP acquired a new stake in Ferroglobe during the fourth quarter worth about $9,837,000. Man Investment Partners US LP purchased a new position in Ferroglobe during the fourth quarter valued at approximately $6,021,000. Bastion Asset Management Inc. purchased a new position in Ferroglobe during the first quarter valued at approximately $4,155,000. Finally, Empowered Funds LLC lifted its holdings in Ferroglobe by 7.5% in the first quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company’s stock valued at $3,622,000 after acquiring an additional 61,474 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based products used in the manufacture of aluminum, steel, silicones and other industrial materials. Its product portfolio includes silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloys, as well as silica fume and related products.

The company serves customers across industries such as automotive, construction, renewable energy, consumer products and chemicals. Its materials are used to improve the strength and performance of steel and aluminum, support silicone production and contribute to other metallurgical and industrial applications.

Ferroglobe was formed in 2015 through the combination of Globe Specialty Metals and Grupo FerroAtlántica.