Ferroglobe PLC (GSM) Shares Bought by JPMorgan Chase & Co.
JPMorgan Chase & Co. grew its holdings in Ferroglobe PLC (NASDAQ:GSM) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,552 shares of the basic materials company’s stock after purchasing an additional 20,578 shares during the period. JPMorgan Chase & Co. owned approximately 0.13% of Ferroglobe worth $3,026,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of GSM. Ninepoint Partners LP bought a new stake in Ferroglobe during the 3rd quarter worth approximately $3,611,000. BlueCrest Capital Management Ltd increased its holdings in Ferroglobe by 356.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 54,334 shares of the basic materials company’s stock worth $649,000 after acquiring an additional 42,427 shares during the period. Goldman Sachs Group Inc. increased its holdings in Ferroglobe by 335.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 546,437 shares of the basic materials company’s stock worth $6,530,000 after acquiring an additional 420,922 shares during the period. Monarch Partners Asset Management LLC bought a new stake in Ferroglobe during the 3rd quarter worth approximately $5,613,000. Finally, HAP Trading LLC bought a new stake in Ferroglobe during the 3rd quarter worth approximately $4,259,000. 36.50% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on GSM shares. Stifel Nicolaus upped their target price on shares of Ferroglobe from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. BidaskClub lowered shares of Ferroglobe from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 16th. B. Riley reaffirmed a “buy” rating and set a $20.00 target price (up previously from $16.00) on shares of Ferroglobe in a report on Wednesday, November 22nd. Zacks Investment Research raised shares of Ferroglobe from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, October 11th. Finally, Jefferies Group set a $18.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Ferroglobe has an average rating of “Hold” and an average target price of $19.25.
Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The firm had revenue of $451.60 million for the quarter, compared to analyst estimates of $435.15 million. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. The company’s revenue was up 23.8% compared to the same quarter last year. equities research analysts expect that Ferroglobe PLC will post 0.13 earnings per share for the current fiscal year.
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Ferroglobe 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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