Trellus Management Company LLC increased its stake in Ferroglobe PLC (NASDAQ:GSM) by 44.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,473 shares of the basic materials company’s stock after purchasing an additional 8,473 shares during the quarter. Trellus Management Company LLC’s holdings in Ferroglobe were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Stevens Capital Management LP purchased a new position in Ferroglobe in the 2nd quarter worth about $118,000. Fox Run Management L.L.C. purchased a new position in Ferroglobe in the 3rd quarter worth about $114,000. Paloma Partners Management Co purchased a new position in Ferroglobe in the 2nd quarter worth about $161,000. Harbour Capital Advisors LLC purchased a new position in Ferroglobe in the 2nd quarter worth about $203,000. Finally, Palo Capital Inc. increased its stake in Ferroglobe by 22.2% in the 2nd quarter. Palo Capital Inc. now owns 51,550 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 9,355 shares in the last quarter. 42.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GSM stock opened at $6.83 on Thursday. The company has a current ratio of 1.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51. Ferroglobe PLC has a twelve month low of $5.77 and a twelve month high of $17.61. The company has a market capitalization of $1.15 billion, a P/E ratio of 52.54 and a beta of 1.67.
A number of equities analysts recently weighed in on the company. Jefferies Financial Group set a $10.00 price target on Ferroglobe and gave the stock a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. BidaskClub lowered Ferroglobe from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Finally, Stifel Nicolaus decreased their price objective on Ferroglobe from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.20.
COPYRIGHT VIOLATION NOTICE: “Trellus Management Company LLC Has $224,000 Position in Ferroglobe PLC (GSM)” was first published by WKRB News and is owned by of WKRB News. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.wkrb13.com/2018/11/08/trellus-management-company-llc-has-224000-position-in-ferroglobe-plc-gsm.html.
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.
Featured Story: What is a bull market?
Receive News & Ratings for Ferroglobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferroglobe and related companies with MarketBeat.com's FREE daily email newsletter.