Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,570,000 shares, a decrease of 15.5% from the August 15th total of 3,040,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Ferroglobe

A number of institutional investors have recently modified their holdings of the stock. Jump Financial LLC acquired a new stake in shares of Ferroglobe in the 4th quarter valued at $575,000. Principal Financial Group Inc. acquired a new stake in Ferroglobe during the 4th quarter worth $366,000. Aigen Investment Management LP bought a new position in Ferroglobe during the fourth quarter worth about $109,000. Chesapeake Capital Corp IL acquired a new position in Ferroglobe in the fourth quarter valued at about $229,000. Finally, 1492 Capital Management LLC grew its stake in Ferroglobe by 4.9% in the fourth quarter. 1492 Capital Management LLC now owns 247,510 shares of the basic materials company’s stock valued at $1,611,000 after acquiring an additional 11,651 shares during the period. 89.64% of the stock is owned by institutional investors.

Ferroglobe Price Performance

Shares of Ferroglobe stock traded up $0.02 during trading on Wednesday, hitting $4.20. 983,748 shares of the company’s stock traded hands, compared to its average volume of 1,371,434. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91. The company has a market cap of $787.22 million, a PE ratio of 12.35 and a beta of 1.83. Ferroglobe has a twelve month low of $4.07 and a twelve month high of $6.78. The firm’s fifty day moving average price is $4.80 and its 200 day moving average price is $5.11.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $451.05 million during the quarter, compared to analysts’ expectations of $425.55 million. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. During the same quarter last year, the company posted $0.30 EPS. Analysts forecast that Ferroglobe will post 0.28 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, September 20th. Ferroglobe’s dividend payout ratio is currently 14.71%.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.