Comerica Bank reduced its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 228,683 shares of the basic materials company’s stock after selling 4,269 shares during the period. Comerica Bank’s holdings in Ferroglobe were worth $3,478,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings 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 valued at $137,000 after purchasing an additional 5,400 shares during the period. Invictus RG purchased a new position in Ferroglobe in the third quarter valued at $146,000. Caxton Associates LP purchased a new position in Ferroglobe in the third quarter valued at $151,000. Oppenheimer & Co. Inc. boosted its holdings in Ferroglobe by 30.6% in the third quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 3,725 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in Ferroglobe by 77.1% in the third quarter. Quantbot Technologies LP now owns 15,913 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 6,926 shares during the period. Institutional investors and hedge funds own 40.05% of the company’s stock.
Shares of Ferroglobe PLC (NASDAQ GSM) opened at $15.55 on Monday. Ferroglobe PLC has a 52 week low of $8.54 and a 52 week high of $17.61. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.
Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The company had revenue of $451.60 million for the quarter, compared to analysts’ expectations of $435.15 million. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. research analysts predict that Ferroglobe PLC will post 0.13 EPS for the current year.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Ferroglobe from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Zacks Investment Research lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 30th. ValuEngine lowered Ferroglobe from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Stifel Nicolaus set a $23.00 target price on Ferroglobe and gave the company a “buy” rating in a report on Thursday, November 30th. Finally, B. Riley reiterated a “buy” rating and issued a $20.00 target price (up from $16.00) on shares of Ferroglobe in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.25.
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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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