Ferroglobe PLC to Issue Quarterly Dividend of $0.01 (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Monday, August 5th, Zacks reports. Shareholders of record on Friday, September 20th will be paid a dividend of 0.013 per share by the basic materials company on Friday, September 27th. This represents a $0.05 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, September 20th.

Ferroglobe has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Ferroglobe to earn $0.57 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 8.8%.

Ferroglobe Stock Down 2.9 %

Shares of NASDAQ:GSM traded down $0.14 during trading on Wednesday, reaching $4.66. 92,638 shares of the stock were exchanged, compared to its average volume of 1,391,903. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.02. Ferroglobe has a 1-year low of $4.26 and a 1-year high of $6.78. The stock has a fifty day moving average of $5.53 and a two-hundred day moving average of $5.27. The firm has a market cap of $873.44 million, a price-to-earnings ratio of 13.76 and a beta of 1.87.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $451.05 million during the quarter, compared to analyst estimates of $425.55 million. Ferroglobe had a return on equity of 15.06% and a net margin of 3.92%. During the same period in the prior year, the firm posted $0.30 EPS. Research analysts anticipate that Ferroglobe will post 0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Ferroglobe from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd.

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.