Ferroglobe Target of Unusually High Options Trading (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) saw some unusual options trading activity on Tuesday. Traders bought 8,391 put options on the company. This is an increase of approximately 265% compared to the typical volume of 2,301 put options.

Ferroglobe Trading Up 1.4 %

NASDAQ GSM opened at $5.09 on Thursday. The company has a fifty day simple moving average of $4.86 and a two-hundred day simple moving average of $5.24. The stock has a market cap of $954.02 million, a P/E ratio of 11.07 and a beta of 2.01. Ferroglobe has a 12-month low of $3.95 and a 12-month high of $6.78. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $375.95 million during the quarter, compared to analysts’ expectations of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. On average, analysts forecast that Ferroglobe will post 0.26 earnings per share for the current year.

Ferroglobe Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd were paid a $0.013 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.02%. Ferroglobe’s payout ratio is currently 10.87%.

Institutional Trading of Ferroglobe

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. acquired a new stake in Ferroglobe during the third quarter valued at $771,000. General American Investors Co. Inc. acquired a new stake in Ferroglobe during the third quarter valued at $4,829,000. Victory Capital Management Inc. purchased a new position in Ferroglobe during the third quarter valued at $944,000. Fox Run Management L.L.C. purchased a new position in Ferroglobe during the third quarter valued at $79,000. Finally, New York State Common Retirement Fund purchased a new position in Ferroglobe during the third quarter valued at $47,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.