Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

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

Ferroglobe Stock Up 7.1 %

Shares of GSM opened at $4.53 on Tuesday. The firm has a market capitalization of $849.06 million, a P/E ratio of 17.63 and a beta of 1.88. Ferroglobe has a 12-month low of $3.99 and a 12-month high of $6.78. The company has a current ratio of 1.83, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $4.35 and a 200-day moving average price of $4.96.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $433.53 million for the quarter, compared to analysts’ expectations of $443.50 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. During the same period in the prior year, the firm posted $0.27 earnings per share. Equities research analysts expect that Ferroglobe will post 0.28 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be issued a $0.013 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.05 annualized dividend and a dividend yield of 1.15%. Ferroglobe’s payout ratio is currently 20.83%.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently made changes to their positions in the company. Maverick Capital Ltd. bought a new stake in shares of Ferroglobe in the second quarter valued at about $1,236,000. Old West Investment Management LLC raised its holdings in shares of Ferroglobe by 880.4% in the second quarter. Old West Investment Management LLC now owns 1,127,477 shares of the basic materials company’s stock valued at $6,043,000 after acquiring an additional 1,012,477 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in shares of Ferroglobe in the third quarter valued at about $2,900,000. Thomist Capital Management LP raised its holdings in shares of Ferroglobe by 159.3% in the second quarter. Thomist Capital Management LP now owns 3,133,022 shares of the basic materials company’s stock valued at $18,031,000 after acquiring an additional 1,924,879 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Ferroglobe by 15.2% in the second 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 acquiring an additional 1,003,918 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note 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.