Stock Traders Purchase Large Volume of Call Options on Ferroglobe (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) saw unusually large options trading activity on Friday. Stock investors purchased 7,371 call options on the stock. This represents an increase of approximately 300% compared to the average daily volume of 1,842 call options.

Ferroglobe Price Performance

Ferroglobe stock opened at $3.96 on Friday. 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 business’s 50 day simple moving average is $4.18 and its 200 day simple moving average is $4.59. Ferroglobe has a 12 month low of $3.68 and a 12 month high of $6.47. The company has a market cap of $742.24 million, a price-to-earnings ratio of 16.50 and a beta of 1.84.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data 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 firm had revenue of $433.53 million during the quarter, compared to the consensus estimate of $443.50 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Sell-side analysts forecast that Ferroglobe will post 0.28 EPS for the current year.

Ferroglobe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 20th were issued a $0.013 dividend. This represents a $0.05 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, December 20th. Ferroglobe’s dividend payout ratio (DPR) is presently 20.83%.

Institutional Investors Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC purchased a new stake in Ferroglobe in the 3rd quarter worth approximately $44,000. Old West Investment Management LLC grew its position in Ferroglobe by 158.0% during the third quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after buying an additional 1,781,024 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Ferroglobe during the third quarter worth about $99,000. XTX Topco Ltd bought a new position in shares of Ferroglobe in the third quarter worth approximately $150,000. Finally, State Street Corp lifted its position in Ferroglobe by 1.6% during the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 2,615 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.

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.