Key Points
- Chairman Javier Lopez bought 26,000 shares at $3.86 each (totaling $100,360), boosting his stake by 21.45% to 147,200 shares (SEC filing disclosed).
- Dividend raised: Ferroglobe increased its quarterly payout to $0.015 per share (annualized $0.06, yield ~1.4%), with an ex-dividend date of March 23 and payment on March 30.
- Ferroglobe posted quarterly EPS of -$0.06 (beating the -$0.07 estimate) and revenue of $329.4M, but remains unprofitable (net margin -12.78%, negative ROE); market cap is about $783.9M and consensus price target is $6.00 (rating: Hold).
Ferroglobe PLC (NASDAQ:GSM - Get Free Report) Chairman Madrid Javier Lopez acquired 26,000 shares of the company's stock in a transaction on Monday, March 23rd. The shares were acquired at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the completion of the acquisition, the chairman owned 147,200 shares of the company's stock, valued at approximately $568,192. The trade was a 21.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Ferroglobe Price Performance
GSM opened at $4.20 on Thursday. The company has a market capitalization of $783.85 million, a price-to-earnings ratio of -4.57 and a beta of 0.93. 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 firm has a 50-day moving average price of $4.86 and a 200-day moving average price of $4.67. Ferroglobe PLC has a twelve month low of $2.97 and a twelve month high of $5.74.
Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $329.38 million for the quarter, compared to analyst estimates of $293.60 million. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. Equities analysts expect that Ferroglobe PLC will post 0.33 EPS for the current year.
Ferroglobe Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 23rd will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 23rd. This is a positive change from Ferroglobe's previous quarterly dividend of $0.01. Ferroglobe's payout ratio is presently -6.52%.
Institutional Trading of Ferroglobe
Several institutional investors and hedge funds have recently bought and sold shares of GSM. World Investment Advisors purchased a new stake in Ferroglobe in the 4th quarter worth approximately $106,000. Invesco Ltd. grew its position in shares of Ferroglobe by 18.7% during the 4th quarter. Invesco Ltd. now owns 299,341 shares of the basic materials company's stock valued at $1,389,000 after purchasing an additional 47,127 shares in the last quarter. Empowered Funds LLC grew its position in shares of Ferroglobe by 10.8% during the 4th quarter. Empowered Funds LLC now owns 817,763 shares of the basic materials company's stock valued at $3,794,000 after purchasing an additional 79,950 shares in the last quarter. Old West Investment Management LLC increased its holdings in shares of Ferroglobe by 17.3% in the fourth quarter. Old West Investment Management LLC now owns 3,798,781 shares of the basic materials company's stock worth $17,626,000 after purchasing an additional 560,867 shares during the period. Finally, Orion Resource Partners LP purchased a new stake in shares of Ferroglobe in the fourth quarter worth $858,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Zacks Research raised Ferroglobe from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Ferroglobe from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ferroglobe presently has a consensus rating of "Hold" and a consensus price target of $6.00.
Read Our Latest Report on Ferroglobe
Ferroglobe Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
