Eii Capital Management Inc. decreased its holdings in Ferroglobe PLC (NASDAQ:GSM) by 7.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,510 shares of the basic materials company’s stock after selling 7,900 shares during the period. Eii Capital Management Inc. owned about 0.06% of Ferroglobe worth $1,336,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of GSM. Oppenheimer Asset Management Inc. raised its stake in Ferroglobe by 10.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,011 shares in the last quarter. Legal & General Group Plc raised its stake in Ferroglobe by 108.3% in the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock worth $137,000 after buying an additional 5,400 shares in the last quarter. Invictus RG bought a new position in Ferroglobe in the third quarter worth approximately $146,000. Caxton Associates LP bought a new position in Ferroglobe in the third quarter worth approximately $151,000. Finally, Budros Ruhlin & Roe Inc. raised its stake in Ferroglobe by 17.2% in the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after buying an additional 2,000 shares in the last quarter. 36.61% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Ferroglobe from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of Ferroglobe in a research report on Sunday, September 3rd. Jefferies Group set a $18.00 price target on Ferroglobe and gave the stock a “buy” rating in a research report on Tuesday, November 28th. BidaskClub raised Ferroglobe from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. Finally, Stifel Nicolaus set a $23.00 price target on Ferroglobe and gave the stock a “buy” rating in a research report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $19.25.
Ferroglobe PLC (NASDAQ GSM) opened at $16.41 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45. Ferroglobe PLC has a 12-month low of $8.54 and a 12-month high of $17.61.
Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $451.60 million for the quarter, compared to the consensus estimate of $435.15 million. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. Ferroglobe’s revenue was up 23.8% on a year-over-year basis. equities research analysts anticipate that Ferroglobe PLC will post 0.13 earnings per share for the current 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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