Ferroglobe PLC (GSM) to Issue Quarterly Dividend of $0.01 on June 29th

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Tuesday, May 5th. Stockholders of record on Monday, June 22nd will be paid a dividend of 0.015 per share by the basic materials company on Monday, June 29th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, June 22nd.

Ferroglobe has a payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Ferroglobe to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 12.0%.

Ferroglobe Stock Performance

NASDAQ:GSM opened at $3.91 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. Ferroglobe has a 52-week low of $3.51 and a 52-week high of $5.74. The firm has a market cap of $729.72 million, a price-to-earnings ratio of -6.52 and a beta of 1.00. The business’s fifty day moving average is $4.22 and its 200 day moving average is $4.55.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) EPS for the quarter. The company had revenue of $347.75 million during the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. Research analysts predict that Ferroglobe will post -0.09 EPS for the current year.

Insider Buying and Selling at Ferroglobe

In other Ferroglobe news, Director De Fuentes Silvia Villar-Mir acquired 26,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the purchase, the director owned 121,226 shares of the company’s stock, valued at approximately $467,932.36. This represents a 27.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Madrid Javier Lopez bought 26,000 shares of Ferroglobe stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the transaction, the chairman owned 147,200 shares of the company’s stock, valued at $568,192. This represents a 21.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 13.07% of the company’s stock.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Ferroglobe by 7.5% during the first quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company’s stock worth $3,622,000 after purchasing an additional 61,474 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Ferroglobe by 10.1% in the first quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company’s stock valued at $649,000 after purchasing an additional 14,422 shares in the last quarter. Sei Investments Co. lifted its position in Ferroglobe by 67.0% during the first quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company’s stock valued at $2,634,000 after purchasing an additional 256,449 shares during the last quarter. Globeflex Capital L P bought a new stake in Ferroglobe during the first quarter valued at approximately $134,000. Finally, Bastion Asset Management Inc. purchased a new position in Ferroglobe in the 1st quarter worth approximately $4,155,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

About Ferroglobe

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.