King Luther Capital Management Corp lowered its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 15.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,025 shares of the basic materials company’s stock after selling 52,110 shares during the period. King Luther Capital Management Corp owned approximately 0.16% of Ferroglobe worth $3,711,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hosking Partners LLP increased its stake in shares of Ferroglobe by 1.6% in the second quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock worth $5,387,000 after buying an additional 7,283 shares during the last quarter. Comerica Bank bought a new stake in shares of Ferroglobe in the second quarter worth $2,899,000. Geode Capital Management LLC increased its stake in shares of Ferroglobe by 5.3% in the first quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock worth $1,542,000 after buying an additional 7,523 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in shares of Ferroglobe in the second quarter worth $2,289,000. Finally, BlueCrest Capital Management Ltd increased its stake in shares of Ferroglobe by 356.3% in the second quarter. BlueCrest Capital Management Ltd now owns 54,334 shares of the basic materials company’s stock worth $649,000 after buying an additional 42,427 shares during the last quarter. Institutional investors own 36.61% of the company’s stock.
A number of brokerages recently issued reports on GSM. Zacks Investment Research lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Jefferies Group restated a “buy” rating and issued a $16.75 price target (down previously from $17.00) on shares of Ferroglobe in a research note on Thursday, August 31st. ValuEngine lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Stifel Nicolaus restated a “buy” rating on shares of Ferroglobe in a research note on Sunday, September 3rd. Finally, B. Riley restated a “buy” rating and issued a $20.00 price target (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Ferroglobe has a consensus rating of “Buy” and an average price target of $19.25.
Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $451.60 million during the quarter, compared to the consensus estimate of $435.15 million. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. equities research analysts expect that Ferroglobe PLC will post 0.13 EPS for the current fiscal year.
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Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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