Ferroglobe (NASDAQ:GSM) Stock: Insider Madrid Javier Lopez Acquires 28,671 Shares

Ferroglobe PLC (NASDAQ:GSM) Chairman Madrid Javier Lopez acquired 28,671 shares of the stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $2.62 per share, with a total value of $75,118.02. Following the completion of the transaction, the chairman owned 128,399 shares in the company, valued at approximately $336,405.38. This represents a 28.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ferroglobe Stock Performance

Shares of Ferroglobe stock traded down $0.05 on Friday, hitting $3.00. The stock had a trading volume of 2,320,003 shares, compared to its average volume of 1,733,057. The stock has a market cap of $559.89 million, a price-to-earnings ratio of 18.75 and a beta of 1.21. Ferroglobe PLC has a 52-week low of $2.50 and a 52-week high of $5.66. The company’s 50 day moving average price is $3.94 and its 200 day moving average price is $4.13. 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 released its earnings results on Tuesday, November 3rd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Ferroglobe had a net margin of 2.13% and a negative return on equity of 5.15%. The company had revenue of $369.76 million during the quarter, compared to analyst estimates of $382.80 million. On average, research analysts anticipate that Ferroglobe PLC will post -0.05 EPS for the current year.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.0150 per share. This represents a $0.06 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is 37.50%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Ferroglobe

Several institutional investors have recently added to or reduced their stakes in GSM. Donald Smith & CO. Inc. purchased a new stake in Ferroglobe in the 2nd quarter valued at about $25,843,000. Royce & Associates LP grew its holdings 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 during the period. Russell Investments Group Ltd. raised its stake in Ferroglobe by 2.0% during the third quarter. Russell Investments Group Ltd. now owns 1,154,691 shares of the basic materials company’s stock worth $4,590,000 after purchasing an additional 22,873 shares during the period. Orchard Capital Management LLC raised its stake in Ferroglobe by 38.1% during the third quarter. Orchard Capital Management LLC now owns 953,083 shares of the basic materials company’s stock worth $3,789,000 after purchasing an additional 263,083 shares during the period. Finally, Bastion Asset Management Inc. acquired a new position in shares of Ferroglobe in the 1st quarter valued at $4,155,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Recent Ferroglobe Headlines

Here are a few of the latest headlines about GSM:

• Positive Sentiment: Four Ferroglobe directors and insiders bought a combined 80,842 shares on November 6 for about $212,000, increasing their reported holdings. Investors may interpret the purchases as a sign of confidence in the company. Insider purchase report
• Neutral Sentiment: The company declared a quarterly dividend of $0.015 per share, equivalent to $0.06 annually. This provides a modest income component but is unlikely to be a major near-term catalyst.
• Negative Sentiment: Ferroglobe’s latest reported quarter showed a loss of $0.06 per share, worse than the $0.04 loss analysts expected; revenue of $369.8 million also missed estimates of $382.8 million. The results underscore continued operating pressure.

About Ferroglobe

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.