Bank of New York Mellon Corp boosted its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 354.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,269 shares of the basic materials company’s stock after purchasing an additional 252,097 shares during the period. Bank of New York Mellon Corp owned about 0.19% of Ferroglobe worth $4,254,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Hosking Partners LLP grew its holdings in Ferroglobe by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock valued at $5,387,000 after purchasing an additional 7,283 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Ferroglobe in the 2nd quarter worth about $2,289,000. BlueCrest Capital Management Ltd grew its stake in Ferroglobe by 356.3% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 54,334 shares of the basic materials company’s stock worth $649,000 after acquiring an additional 42,427 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Ferroglobe by 335.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 546,437 shares of the basic materials company’s stock worth $6,530,000 after acquiring an additional 420,922 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in Ferroglobe in the 3rd quarter worth about $5,613,000. Institutional investors own 36.50% of the company’s stock.
GSM has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, October 11th. Stifel Nicolaus upped their target price on shares of Ferroglobe from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. BidaskClub downgraded shares of Ferroglobe from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 16th. Jefferies Group restated a “buy” rating on shares of Ferroglobe in a research note on Monday, September 18th. Finally, B. Riley restated a “buy” rating and issued a $20.00 target price (up from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.25.
Ferroglobe (NASDAQ:GSM) last issued its earnings results on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. The business had revenue of $451.60 million for the quarter, compared to the consensus estimate of $435.15 million. Ferroglobe’s quarterly revenue was up 23.8% compared to the same quarter last year. sell-side analysts anticipate that Ferroglobe PLC will post 0.13 earnings per share for the current fiscal year.
Ferroglobe Company Profile
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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