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

Ferroglobe PLC (NASDAQ:GSM) was the recipient of unusually large options trading on Tuesday. Traders acquired 8,391 put options on the stock. This is an increase of 265% compared to the typical volume of 2,301 put options.

Institutional Trading of Ferroglobe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd increased its holdings in Ferroglobe by 4.2% during the 3rd quarter. WINTON GROUP Ltd now owns 66,380 shares of the basic materials company’s stock worth $345,000 after purchasing an additional 2,682 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Ferroglobe during the 3rd quarter worth approximately $47,000. Covestor Ltd grew its holdings in shares of Ferroglobe by 12,965.3% in the third quarter. Covestor Ltd now owns 9,407 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 9,335 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of Ferroglobe in the third quarter valued at approximately $52,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Ferroglobe by 70.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 24,895 shares of the basic materials company’s stock valued at $129,000 after acquiring an additional 10,250 shares in the last quarter. 89.64% of the stock is owned by institutional investors.

Ferroglobe Stock Performance

Shares of Ferroglobe stock opened at $5.09 on Thursday. Ferroglobe has a one year low of $3.95 and a one year high of $6.78. The firm has a market capitalization of $954.02 million, a price-to-earnings ratio of 11.07 and a beta of 2.01. The business has a 50-day simple moving average of $4.86 and a 200 day simple moving average of $5.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32.

Ferroglobe (NASDAQ:GSM) last issued its earnings results 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. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. The business had revenue of $375.95 million during the quarter, compared to analyst estimates of $318.80 million. On average, research analysts anticipate that Ferroglobe will post 0.26 earnings per share 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 issued a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 21st. Ferroglobe’s dividend payout ratio is currently 10.87%.

Analysts Set New Price Targets

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

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.