Trellus Management Company LLC Has $224,000 Position in Ferroglobe PLC (GSM)

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.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Tuesday, August 21st. The basic materials company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). Ferroglobe had a net margin of 6.44% and a return on equity of 8.53%. The company had revenue of $583.00 million during the quarter, compared to the consensus estimate of $608.91 million. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue was up 36.9% on a year-over-year basis. On average, research analysts forecast that Ferroglobe PLC will post 0.66 EPS for the current year.

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.

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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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