Investors Purchase High Volume of Ferroglobe Put Options (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) saw some unusual options trading activity on Friday. Investors acquired 6,250 put options on the company. This represents an increase of approximately 378% compared to the average volume of 1,307 put options.

Ferroglobe Stock Up 5.8%

Shares of GSM stock traded up $0.25 during trading hours on Friday, reaching $4.44. The company had a trading volume of 576,913 shares, compared to its average volume of 1,345,196. The company has a market capitalization of $827.69 million, a P/E ratio of -7.80 and a beta of 1.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 1.56. Ferroglobe has a twelve month low of $2.97 and a twelve month high of $5.74. The stock's fifty day simple moving average is $4.56 and its 200 day simple moving average is $4.26.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.07). Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%.The company had revenue of $311.70 million during the quarter, compared to analysts' expectations of $393.80 million. As a group, sell-side analysts expect that Ferroglobe will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 22nd will be issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, December 22nd. Ferroglobe's dividend payout ratio (DPR) is presently -6.76%.

Analysts Set New Price Targets

GSM has been the topic of several research reports. B. Riley cut their target price on Ferroglobe from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen downgraded Ferroglobe from a "hold" rating to a "sell" rating in a report on Sunday, November 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of Ferroglobe in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Ferroglobe from a "hold" rating to a "strong sell" rating in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ferroglobe presently has an average rating of "Reduce" and an average target price of $6.00.

View Our Latest Analysis on GSM

Institutional Investors Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSM. California State Teachers Retirement System purchased a new position in Ferroglobe in the 2nd quarter valued at about $27,000. State of Alaska Department of Revenue acquired a new position in shares of Ferroglobe in the third quarter worth about $32,000. BNP Paribas Financial Markets lifted its stake in shares of Ferroglobe by 1,017,300.0% in the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company's stock worth $37,000 after acquiring an additional 10,173 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Ferroglobe in the first quarter valued at about $38,000. Finally, R Squared Ltd acquired a new stake in Ferroglobe during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Company Profile

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.

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