Ferroglobe Target of Unusually Large Options Trading (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) was the target of some unusual options trading activity on Wednesday. Stock traders bought 7,149 call options on the stock. This is an increase of 236% compared to the average volume of 2,128 call options.

Ferroglobe Stock Performance

NASDAQ GSM opened at $5.58 on Thursday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 12.13 and a beta of 2.01. The stock has a 50-day moving average of $4.86 and a 200 day moving average of $5.24. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. Ferroglobe has a twelve month low of $3.95 and a twelve month high of $6.78.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $375.95 million during the quarter, compared to analysts’ expectations of $318.80 million. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. Sell-side analysts anticipate that Ferroglobe will post 0.26 EPS for the current fiscal year.

Ferroglobe Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were given a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, March 21st. Ferroglobe’s dividend payout ratio is presently 10.87%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a report on Tuesday, March 26th.

Hedge Funds Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Ferroglobe by 96.8% during the 1st quarter. BlackRock Inc. now owns 188,581 shares of the basic materials company’s stock worth $1,452,000 after buying an additional 92,757 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Ferroglobe by 49.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 181,863 shares of the basic materials company’s stock valued at $1,400,000 after buying an additional 60,002 shares during the period. UBS Group AG lifted its stake in Ferroglobe by 1,187.9% during the first quarter. UBS Group AG now owns 33,627 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 31,016 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Ferroglobe during the first quarter worth about $598,000. Finally, State Street Corp lifted its position in shares of Ferroglobe by 4.6% during the first quarter. State Street Corp now owns 33,691 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 1,477 shares in the last quarter. 89.64% of the stock is owned by hedge funds and other institutional investors.

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.