California Public Employees Retirement System boosted its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 435,800 shares of the basic materials company’s stock after purchasing an additional 3,700 shares during the quarter. California Public Employees Retirement System owned 0.25% of Ferroglobe worth $7,060,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ninepoint Partners LP acquired a new position in Ferroglobe during the third quarter valued at approximately $3,611,000. Sei Investments Co. boosted its holdings in shares of Ferroglobe by 30,358.6% in the third quarter. Sei Investments Co. now owns 35,332 shares of the basic materials company’s stock valued at $465,000 after buying an additional 35,216 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ferroglobe by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,249,451 shares of the basic materials company’s stock valued at $55,922,000 after buying an additional 109,552 shares during the period. Monarch Partners Asset Management LLC acquired a new position in shares of Ferroglobe in the third quarter valued at approximately $5,613,000. Finally, HAP Trading LLC acquired a new position in shares of Ferroglobe in the third quarter valued at approximately $4,259,000. Hedge funds and other institutional investors own 41.20% of the company’s stock.
Shares of Ferroglobe PLC (GSM) traded down $0.23 during mid-day trading on Wednesday, hitting $15.84. 329,486 shares of the stock were exchanged, compared to its average volume of 496,709. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.09 and a current ratio of 1.80. The company has a market capitalization of $2,786.36, a price-to-earnings ratio of 106.87 and a beta of 1.35. Ferroglobe PLC has a twelve month low of $8.54 and a twelve month high of $17.61.
Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Monday, February 26th. The basic materials company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). The business had revenue of $468.22 million during the quarter, compared to the consensus estimate of $463.41 million. Ferroglobe had a return on equity of 2.32% and a net margin of 1.45%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. equities analysts predict that Ferroglobe PLC will post 1.25 EPS for the current year.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Zacks Investment Research cut shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 28th. Finally, Jefferies Group set a $19.00 price target on shares of Ferroglobe and gave the company a “buy” rating in a report on Monday, February 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.50.
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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