Ferroglobe PLC (NASDAQ:GSM) Increases Dividend to $0.01 Per Share

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Thursday, March 20th will be paid a dividend of 0.014 per share by the basic materials company on Wednesday, March 26th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01.

Ferroglobe has a dividend payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Ferroglobe stock opened at $3.49 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. Ferroglobe has a 52-week low of $3.45 and a 52-week high of $6.19. The firm has a market cap of $654.76 million, a PE ratio of 174.25 and a beta of 1.83. The company’s 50 day moving average is $3.93 and its two-hundred day moving average is $4.23.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $367.51 million for the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. On average, research analysts expect that Ferroglobe will post 0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday.

About Ferroglobe

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.