Ferroglobe (NASDAQ:GSM) Stock: Insider Bruce Larmour Crockett Buys 8,000 Shares

Ferroglobe PLC (NASDAQ:GSM) Director Bruce Larmour Crockett acquired 8,000 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $2.67 per share, for a total transaction of $21,360.00. Following the completion of the purchase, the director directly owned 54,000 shares of the company’s stock, valued at approximately $144,180. The trade was a 17.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ferroglobe Stock Performance

NASDAQ:GSM opened at $2.87 on Thursday. The stock has a market capitalization of $535.62 million, a P/E ratio of 17.94 and a beta of 1.21. Ferroglobe PLC has a 1 year low of $2.50 and a 1 year high of $5.66. The firm has a 50 day moving average of $4.00 and a 200-day moving average of $4.15. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $369.76 million for the quarter, compared to the consensus estimate of $382.80 million. Ferroglobe had a negative return on equity of 5.15% and a net margin of 2.13%. As a group, sell-side analysts anticipate that Ferroglobe PLC will post -0.05 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 22nd will be given a dividend of $0.0150 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $0.06 annualized dividend and a yield of 2.1%. Ferroglobe’s dividend payout ratio is 37.50%.

Analyst Upgrades and Downgrades

GSM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ferroglobe in a research note on Monday, November 2nd. Needham & Company LLC set a $5.00 price objective on shares of Ferroglobe in a research report on Friday, November 6th. Jefferies Financial Group set a $5.00 price objective on Ferroglobe in a report on Friday, November 6th. Finally, Wall Street Zen raised Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ferroglobe presently has an average rating of “Reduce” and a consensus price target of $5.00.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds have recently added to or reduced their stakes in GSM. Donald Smith & CO. Inc. bought a new stake in shares of Ferroglobe in the 2nd quarter valued at about $25,843,000. Royce & Associates LP increased its stake in Ferroglobe by 45.4% in the third quarter. Royce & Associates LP now owns 2,781,127 shares of the basic materials company’s stock valued at $11,055,000 after purchasing an additional 868,193 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Ferroglobe by 2.0% in the third quarter. Russell Investments Group Ltd. now owns 1,154,691 shares of the basic materials company’s stock valued at $4,590,000 after purchasing an additional 22,873 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in Ferroglobe in the first quarter worth $4,155,000. Finally, Empowered Funds LLC raised its holdings in Ferroglobe by 7.5% in 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 during the period. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe plc produces silicon metal, silicon-based alloys and manganese-based alloys. Its products are used in industries including aluminum, steel, chemicals and energy. Silicon metal is an important input for aluminum alloys, silicones and polysilicon, while the company’s alloys are used in steelmaking and other metallurgical applications. Ferroglobe serves customers in markets around the world. The company was formed in 2015 through the merger of Globe Specialty Metals and Grupo FerroAtlántica.