Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,080,000 shares, an increase of 25.3% from the February 13th total of 1,660,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 983,800 shares, the days-to-cover ratio is presently 2.1 days.

Ferroglobe Price Performance

Ferroglobe stock traded up $0.01 during mid-day trading on Monday, hitting $4.04. 569,873 shares of the company were exchanged, compared to its average volume of 1,185,073. 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 business has a fifty day moving average of $3.86 and a 200 day moving average of $4.13. Ferroglobe has a 1-year low of $3.23 and a 1-year high of $6.19. The company has a market capitalization of $759.06 million, a PE ratio of 202.00 and a beta of 1.89.

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

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 20th will be paid a $0.014 dividend. The ex-dividend date is Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.39%. Ferroglobe’s dividend payout ratio (DPR) is 250.00%.

Analysts Set New Price Targets

GSM has been the subject of several research reports. Seaport Res Ptn cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Institutional Trading of Ferroglobe

Hedge funds and other institutional investors have recently made changes to their positions in the business. Old West Investment Management LLC increased its position in Ferroglobe by 158.0% in the third quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after purchasing an additional 1,781,024 shares during the period. Barclays PLC bought a new position in Ferroglobe during the third quarter worth about $44,000. State Street Corp boosted its holdings in Ferroglobe by 1.6% during the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock worth $757,000 after buying an additional 2,615 shares during the last quarter. Hosking Partners LLP boosted its holdings in Ferroglobe by 1.8% during the fourth quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after buying an additional 159,845 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Ferroglobe by 1,180.4% during the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 368,300 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Company Profile

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.