Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 1,880,000 shares, a drop of 7.4% from the October 15th total of 2,030,000 shares. Based on an average trading volume of 1,230,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.6% of the shares of the company are short sold.

Ferroglobe Price Performance

Shares of GSM opened at $4.49 on Wednesday. The firm has a market cap of $841.56 million, a price-to-earnings ratio of 18.71 and a beta of 1.88. The stock has a 50 day moving average of $4.35 and a 200-day moving average of $4.96. The company has a current ratio of 1.83, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. Ferroglobe has a 52 week low of $3.99 and a 52 week high of $6.78.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Ferroglobe had a return on equity of 7.55% and a net margin of 2.74%. The firm had revenue of $433.53 million during the quarter, compared to analyst estimates of $443.50 million. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, analysts forecast that Ferroglobe will post 0.28 EPS for the current year.

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be given a dividend of $0.013 per share. The ex-dividend date is Friday, December 20th. This represents a $0.05 dividend on an annualized basis and a yield of 1.16%. Ferroglobe’s dividend payout ratio is currently 20.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hosking Partners LLP boosted its position in Ferroglobe by 48.7% during the 2nd quarter. Hosking Partners LLP now owns 9,108,922 shares of the basic materials company’s stock valued at $48,824,000 after purchasing an additional 2,981,907 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Ferroglobe by 15.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,621,112 shares of the basic materials company’s stock valued at $40,849,000 after purchasing an additional 1,003,918 shares during the period. Old West Investment Management LLC raised 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 valued at $17,439,000 after acquiring an additional 2,631,024 shares in the last quarter. Bank of Montreal Can raised 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 valued at $15,958,000 after acquiring an additional 2,442,507 shares in the last quarter. Finally, Masters Capital Management LLC raised its stake in Ferroglobe by 37.0% during the 1st quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company’s stock valued at $15,687,000 after acquiring an additional 850,000 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Ferroglobe from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th.

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.