Bank of Montreal Can Lowers Position in Ferroglobe PLC (GSM)

Bank of Montreal Can lowered its position in Ferroglobe PLC (NASDAQ:GSM) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,109 shares of the basic materials company’s stock after selling 8,193 shares during the period. Bank of Montreal Can’s holdings in Ferroglobe were worth $116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Ferroglobe by 69.3% during the 2nd quarter. BlackRock Inc. now owns 191,332 shares of the basic materials company’s stock worth $1,640,000 after acquiring an additional 78,326 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Ferroglobe by 55.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,072 shares of the basic materials company’s stock worth $20,008,000 after acquiring an additional 868,916 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Ferroglobe by 57.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,681,933 shares of the basic materials company’s stock worth $13,739,000 after acquiring an additional 613,333 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Ferroglobe by 413.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 170,064 shares of the basic materials company’s stock worth $1,389,000 after acquiring an additional 136,925 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Ferroglobe by 26.3% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 5,141,627 shares of the basic materials company’s stock worth $42,007,000 after acquiring an additional 1,071,486 shares in the last quarter. Institutional investors and hedge funds own 38.67% of the company’s stock.

Several analysts have recently issued reports on GSM shares. BidaskClub raised Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. UBS Group cut Ferroglobe from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 27th. Oppenheimer reaffirmed a “market perform” rating and set a $9.00 price objective on shares of Ferroglobe in a report on Tuesday, November 27th. ValuEngine raised Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Finally, B. Riley cut their target price on Ferroglobe from $14.50 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, November 28th. Two investment 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 company currently has a consensus rating of “Hold” and a consensus target price of $8.74.

NASDAQ GSM opened at $2.75 on Friday. The company has a market cap of $362.87 million, a PE ratio of 21.15 and a beta of 2.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.68 and a current ratio of 1.92. Ferroglobe PLC has a fifty-two week low of $1.47 and a fifty-two week high of $17.40.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, February 25th. The basic materials company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $603.50 million for the quarter, compared to the consensus estimate of $486.22 million. Ferroglobe had a return on equity of 7.44% and a net margin of 6.32%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. On average, equities analysts expect that Ferroglobe PLC will post 0.3 earnings per share for the current year.

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Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

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Institutional Ownership by Quarter for Ferroglobe (NASDAQ:GSM)

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