Ferroglobe (NASDAQ:GSM) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a research note released on Sunday morning.

Separately, Weiss Ratings cut Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Price Performance

NASDAQ:GSM opened at $4.39 on Friday. The firm has a market capitalization of $819.31 million, a price-to-earnings ratio of -19.95 and a beta of 1.02. Ferroglobe has a 52-week low of $3.08 and a 52-week high of $5.74. The stock has a fifty day moving average of $3.63 and a 200 day moving average of $4.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.29.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 22nd. Ferroglobe’s payout ratio is currently -27.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new stake in Ferroglobe during the second quarter valued at about $27,000. Quadrant Capital Group LLC boosted its holdings in shares of Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 3,146 shares in the last quarter. Irenic Capital Management LP purchased a new position in shares of Ferroglobe in the 4th quarter worth about $46,000. Highland Capital Management LLC bought a new position in shares of Ferroglobe during the 4th quarter valued at about $46,000. Finally, BNP Paribas Financial Markets increased its position in shares of Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 10,173 shares during the last quarter. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

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.