Ferroglobe (NASDAQ:GSM) Hits New 52-Week Low – Should You Sell?

Ferroglobe PLC (NASDAQ:GSM) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $3.23 and last traded at $3.29, with a volume of 1126726 shares trading hands. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

GSM has been the topic of a number of research analyst reports. Seaport Res Ptn downgraded shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.

Ferroglobe Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $618.14 million, a P/E ratio of 164.50 and a beta of 1.83. The company’s 50-day simple moving average is $3.86 and its 200 day simple moving average is $4.16.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. As a group, sell-side analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be given a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, March 20th. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s dividend payout ratio (DPR) is presently 250.00%.

Institutional Investors Weigh In On Ferroglobe

Institutional investors have recently modified their holdings of the business. Old West Investment Management LLC boosted its stake in Ferroglobe by 233.4% during the 3rd quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock worth $17,439,000 after acquiring an additional 2,631,024 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Ferroglobe by 26.8% during the 3rd quarter. GSA Capital Partners LLP now owns 114,691 shares of the basic materials company’s stock worth $532,000 after acquiring an additional 24,245 shares during the last quarter. Royce & Associates LP boosted its stake in Ferroglobe by 3.6% during the 3rd quarter. Royce & Associates LP now owns 2,726,978 shares of the basic materials company’s stock worth $12,653,000 after acquiring an additional 94,260 shares during the last quarter. Bank of Montreal Can boosted its stake in Ferroglobe by 234.5% during the 3rd quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock worth $15,958,000 after acquiring an additional 2,442,507 shares during the last quarter. Finally, West Tower Group LLC boosted its stake in Ferroglobe by 3.8% during the 3rd quarter. West Tower Group LLC now owns 137,291 shares of the basic materials company’s stock worth $637,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

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.