Invenomic Capital Management LP Makes New Investment in Ferroglobe PLC (NASDAQ:GSM)

Invenomic Capital Management LP bought a new position in shares of Ferroglobe PLC (NASDAQ:GSMGet Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 827,839 shares of the basic materials company’s stock, valued at approximately $5,141,000. Ferroglobe accounts for 1.1% of Invenomic Capital Management LP’s portfolio, making the stock its 29th largest holding. Invenomic Capital Management LP owned 0.44% of Ferroglobe as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of Ferroglobe by 21.9% in the 4th quarter. Van ECK Associates Corp now owns 17,965 shares of the basic materials company’s stock valued at $112,000 after buying an additional 3,228 shares during the period. Confluence Investment Management LLC grew its holdings in shares of Ferroglobe by 9.6% in the 4th quarter. Confluence Investment Management LLC now owns 40,168 shares of the basic materials company’s stock valued at $249,000 after buying an additional 3,511 shares during the period. BlackRock Inc. boosted its stake in Ferroglobe by 5.0% in the 3rd quarter. BlackRock Inc. now owns 101,954 shares of the basic materials company’s stock worth $886,000 after purchasing an additional 4,849 shares during the period. Invesco Ltd. boosted its stake in Ferroglobe by 3.5% in the 3rd quarter. Invesco Ltd. now owns 189,880 shares of the basic materials company’s stock worth $1,652,000 after purchasing an additional 6,334 shares during the period. Finally, Seelaus Asset Management LLC acquired a new position in Ferroglobe in the 4th quarter worth $79,000. 31.18% of the stock is owned by institutional investors.

A number of brokerages recently weighed in on GSM. Seaport Res Ptn reaffirmed a “buy” rating on shares of Ferroglobe in a research note on Monday, February 14th. StockNews.com began coverage on shares of Ferroglobe in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 19th. Finally, TheStreet raised shares of Ferroglobe from a “d” rating to a “c-” rating in a research report on Thursday, March 3rd.

Ferroglobe stock traded down $0.11 during trading hours on Friday, hitting $6.92. The company had a trading volume of 1,210,298 shares, compared to its average volume of 1,340,463. The firm has a market cap of $1.30 billion, a PE ratio of 11.16 and a beta of 2.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 0.97. Ferroglobe PLC has a one year low of $4.38 and a one year high of $11.25. The firm has a 50-day moving average of $7.40 and a 200 day moving average of $6.80.

Ferroglobe (NASDAQ:GSMGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The basic materials company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.15. The firm had revenue of $715.27 million for the quarter, compared to analysts’ expectations of $749.00 million. Ferroglobe had a net margin of 5.76% and a return on equity of 43.57%. During the same period in the prior year, the firm earned ($0.24) EPS. As a group, research analysts expect that Ferroglobe PLC will post 2.52 earnings per share for the current year.

About Ferroglobe (Get Rating)

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals that are 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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