Ferroglobe (NASDAQ:GSM) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings downgraded Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ferroglobe presently has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Stock Down 3.0%

NASDAQ:GSM opened at $4.16 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Ferroglobe has a twelve month low of $3.08 and a twelve month high of $5.74. The company has a market cap of $776.38 million, a PE ratio of -18.91 and a beta of 1.02. The company’s 50 day moving average is $3.64 and its two-hundred day moving average is $4.19.

Ferroglobe Announces Dividend

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

Hedge Funds Weigh In On Ferroglobe

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new stake in shares of Ferroglobe in the 2nd quarter valued at $27,000. Quadrant Capital Group LLC raised its holdings in shares of Ferroglobe by 66.1% during the fourth 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 during the last quarter. Irenic Capital Management LP acquired a new position in Ferroglobe during the fourth quarter valued at $46,000. Highland Capital Management LLC acquired a new position in Ferroglobe during the fourth quarter valued at $46,000. Finally, BNP Paribas Financial Markets lifted its position in Ferroglobe by 1,017,300.0% during the second 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 period. 89.64% of the stock is 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.