Ferroglobe PLC (NASDAQ:GSM) Announces $0.01 Quarterly Dividend

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Wednesday, November 5th. Shareholders of record on Monday, December 22nd will be paid a dividend of 0.014 per share by the basic materials company on Monday, December 29th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 22nd.

Ferroglobe has a payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ferroglobe to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 8.5%.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM opened at $4.51 on Thursday. The stock has a market capitalization of $841.68 million, a P/E ratio of -7.91 and a beta of 1.83. Ferroglobe has a 1-year low of $2.97 and a 1-year high of $5.74. The company has a current ratio of 1.56, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $4.63 and a two-hundred day moving average price of $4.22.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $311.70 million during the quarter, compared to the consensus estimate of $393.80 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. Equities analysts predict that Ferroglobe will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Ferroglobe

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Ferroglobe by 820.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 341,479 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 304,381 shares during the last quarter. Maven Securities LTD boosted its position in Ferroglobe by 168.1% during the 1st quarter. Maven Securities LTD now owns 107,228 shares of the basic materials company’s stock worth $398,000 after acquiring an additional 67,228 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ferroglobe by 72.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 288,746 shares of the basic materials company’s stock worth $1,071,000 after purchasing an additional 121,176 shares in the last quarter. Old West Investment Management LLC raised its stake in shares of Ferroglobe by 58.7% during the 1st quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company’s stock worth $12,747,000 after purchasing an additional 1,270,625 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Ferroglobe by 32.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 81,611 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.