Monarch Partners Asset Management LLC Takes Position in Ferroglobe PLC (GSM)

Monarch Partners Asset Management LLC bought a new stake in shares of Ferroglobe PLC (NASDAQ:GSM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 426,556 shares of the basic materials company’s stock, valued at approximately $5,613,000. Monarch Partners Asset Management LLC owned approximately 0.25% of Ferroglobe PLC at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Ferroglobe PLC by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 418,779 shares of the basic materials company’s stock worth $4,326,000 after buying an additional 9,648 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Ferroglobe PLC by 34.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 172,823 shares of the basic materials company’s stock worth $1,785,000 after buying an additional 44,692 shares in the last quarter. American International Group Inc. raised its stake in shares of Ferroglobe PLC by 7.1% in the 1st quarter. American International Group Inc. now owns 40,274 shares of the basic materials company’s stock worth $416,000 after buying an additional 2,664 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Ferroglobe PLC in the 1st quarter worth $3,249,000. Finally, FMR LLC raised its stake in shares of Ferroglobe PLC by 53.2% in the 1st quarter. FMR LLC now owns 1,707,268 shares of the basic materials company’s stock worth $17,636,000 after buying an additional 593,168 shares in the last quarter. 38.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ferroglobe PLC (NASDAQ GSM) traded up $0.28 during midday trading on Tuesday, reaching $15.27. The company’s stock had a trading volume of 1,066,771 shares, compared to its average volume of 672,532. Ferroglobe PLC has a 1 year low of $8.54 and a 1 year high of $16.48. The company has a current ratio of 2.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.52.

A number of brokerages have recently issued reports on GSM. Zacks Investment Research raised Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $12.00 target price on shares of Ferroglobe PLC in a research report on Wednesday, July 19th. BidaskClub lowered Ferroglobe PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. B. Riley reaffirmed a “buy” rating and set a $16.00 target price (up from $14.25) on shares of Ferroglobe PLC in a research report on Tuesday, August 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $16.20.

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About Ferroglobe PLC

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 PLC (NASDAQ:GSM)

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