Ferroglobe PLC (GSM) Stake Decreased by Northern Trust Corp

Northern Trust Corp decreased its holdings in Ferroglobe PLC (NASDAQ:GSM) by 83.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,242 shares of the basic materials company’s stock after selling 650,705 shares during the period. Northern Trust Corp owned 0.07% of Ferroglobe worth $1,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners boosted its stake in Ferroglobe by 8.3% during the second quarter. Boston Partners now owns 4,335,985 shares of the basic materials company’s stock valued at $51,814,000 after buying an additional 333,141 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in Ferroglobe by 15.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 3,222,024 shares of the basic materials company’s stock valued at $27,493,000 after buying an additional 431,473 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in Ferroglobe by 684.5% during the second quarter. Deprince Race & Zollo Inc. now owns 2,693,853 shares of the basic materials company’s stock valued at $32,192,000 after buying an additional 2,350,450 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Ferroglobe by 65.7% during the second quarter. Russell Investments Group Ltd. now owns 1,705,167 shares of the basic materials company’s stock valued at $20,377,000 after buying an additional 676,104 shares during the last quarter. Finally, Penn Capital Management Co. Inc. boosted its stake in Ferroglobe by 24.3% during the second quarter. Penn Capital Management Co. Inc. now owns 1,078,287 shares of the basic materials company’s stock valued at $12,905,000 after buying an additional 211,015 shares during the last quarter. 36.62% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on GSM. ValuEngine lowered Ferroglobe from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus set a $23.00 price target on Ferroglobe and gave the company a “buy” rating in a research note on Thursday. B. Riley reissued a “buy” rating and set a $20.00 price target (up from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 29th. Jefferies Group set a $18.00 price objective on Ferroglobe and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, BidaskClub raised Ferroglobe from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.25.

Shares of Ferroglobe PLC (NASDAQ:GSM) opened at $16.07 on Monday. Ferroglobe PLC has a one year low of $8.54 and a one year high of $16.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.42 and a current ratio of 1.80.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Monday, November 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $451.60 million during the quarter, compared to analyst estimates of $435.15 million. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The firm’s revenue was up 23.8% compared to the same quarter last year. equities analysts anticipate that Ferroglobe PLC will post 0.13 EPS for the current fiscal year.

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About Ferroglobe

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.

Institutional Ownership by Quarter for Ferroglobe (NASDAQ:GSM)

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