Frontier Capital Management Co. LLC reduced its stake in Ferroglobe PLC (NASDAQ:GSM) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,699,093 shares of the basic materials company’s stock after selling 249,443 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Ferroglobe were worth $7,583,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of GSM. BlackRock Inc. grew its stake in shares of Ferroglobe by 29.8% during the third quarter. BlackRock Inc. now owns 248,410 shares of the basic materials company’s stock worth $2,030,000 after acquiring an additional 57,078 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ferroglobe by 46.7% during the third quarter. JPMorgan Chase & Co. now owns 636,293 shares of the basic materials company’s stock worth $5,199,000 after purchasing an additional 202,602 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Ferroglobe during the third quarter worth about $1,050,000. Virtu Financial LLC acquired a new stake in shares of Ferroglobe during the fourth quarter worth about $71,000. Finally, Benefit Street Partners LLC lifted its holdings in shares of Ferroglobe by 23.7% during the fourth quarter. Benefit Street Partners LLC now owns 971,030 shares of the basic materials company’s stock worth $1,544,000 after purchasing an additional 186,000 shares during the period. Institutional investors own 39.23% of the company’s stock.
GSM has been the subject of a number of research reports. B. Riley set a $4.00 target price on Ferroglobe and gave the stock a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Jefferies Financial Group downgraded Ferroglobe from a “buy” rating to a “hold” rating and set a $2.70 target price for the company. in a report on Thursday, February 14th. ValuEngine raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, BidaskClub raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.74.
Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Monday, February 25th. The basic materials company reported ($0.05) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The business had revenue of $603.50 million during the quarter, compared to analysts’ expectations of $486.22 million. Ferroglobe had a return on equity of 5.67% and a net margin of 3.94%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. As a group, equities analysts predict that Ferroglobe PLC will post -0.22 EPS for the current fiscal year.
Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.
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