Ferroglobe PLC (NASDAQ:GSM) Position Cut by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,097 shares of the basic materials company’s stock after selling 4,867 shares during the period. JPMorgan Chase & Co. owned approximately 0.05% of Ferroglobe PLC worth $930,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Budros Ruhlin & Roe Inc. purchased a new position in shares of Ferroglobe PLC during the first quarter valued at about $120,000. GSA Capital Partners LLP raised its position in Ferroglobe PLC by 17.8% in the fourth quarter. GSA Capital Partners LLP now owns 12,100 shares of the basic materials company’s stock worth $131,000 after buying an additional 1,830 shares in the last quarter. Parkwood LLC bought a new position in Ferroglobe PLC during the first quarter worth $162,000. Independent Portfolio Consultants Inc. raised its position in Ferroglobe PLC by 1.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 18,810 shares of the basic materials company’s stock worth $194,000 after buying an additional 255 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in Ferroglobe PLC by 148.9% in the first quarter. Quantbot Technologies LP now owns 27,054 shares of the basic materials company’s stock worth $279,000 after buying an additional 16,184 shares in the last quarter. Institutional investors own 40.94% of the company’s stock.
Ferroglobe PLC (NASDAQ GSM) traded up 2.39% on Friday, hitting $13.28. The stock had a trading volume of 694,323 shares. Ferroglobe PLC has a 52-week low of $7.67 and a 52-week high of $13.47. The firm’s market cap is $2.28 billion. The company’s 50 day moving average price is $12.68 and its 200 day moving average price is $10.97.
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A number of brokerages recently commented on GSM. BidaskClub raised Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Jefferies Group LLC reaffirmed a “positive” rating and set a $17.00 price target (up from $12.00) on shares of Ferroglobe PLC in a research report on Friday. Zacks Investment Research downgraded Ferroglobe PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. B. Riley reissued a “buy” rating and issued a $14.25 target price on shares of Ferroglobe PLC in a research report on Sunday, May 28th. Finally, TheStreet lowered Ferroglobe PLC from a “c-” rating to a “d” rating in a report on Thursday, May 18th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Ferroglobe PLC presently has an average rating of “Buy” and a consensus price target of $13.88.
Ferroglobe PLC Company Profile
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.
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