Wells Fargo & Company MN Raises Stock Holdings in Ferroglobe PLC (NASDAQ:GSM)

Wells Fargo & Company MN boosted its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,018 shares of the basic materials company’s stock after purchasing an additional 11,947 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Ferroglobe worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GSM. Adirondack Research & Management Inc. raised its holdings in shares of Ferroglobe by 13.8% during the first quarter. Adirondack Research & Management Inc. now owns 578,771 shares of the basic materials company’s stock valued at $1,186,000 after acquiring an additional 70,400 shares during the last quarter. Formula Growth Ltd. acquired a new position in shares of Ferroglobe during the first quarter valued at approximately $2,044,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Ferroglobe by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,397,692 shares of the basic materials company’s stock valued at $6,993,000 after acquiring an additional 199,408 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

Shares of Ferroglobe stock opened at $0.80 on Friday. The business has a 50 day simple moving average of $1.17 and a two-hundred day simple moving average of $1.63. Ferroglobe PLC has a 12 month low of $0.63 and a 12 month high of $7.11. The stock has a market capitalization of $135.14 million, a P/E ratio of 2.85 and a beta of 2.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.38 and a quick ratio of 0.68.



Ferroglobe (NASDAQ:GSM) last announced its earnings results on Tuesday, September 3rd. The basic materials company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Ferroglobe had a negative net margin of 4.12% and a negative return on equity of 5.69%. The firm had revenue of $409.47 million for the quarter, compared to analyst estimates of $446.01 million. During the same period in the previous year, the company earned $0.14 EPS. Ferroglobe’s revenue was down 29.1% compared to the same quarter last year. As a group, research analysts anticipate that Ferroglobe PLC will post -0.59 EPS for the current fiscal year.

A number of equities analysts have commented on the company. Zacks Investment Research cut Ferroglobe from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Stifel Nicolaus cut Ferroglobe from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Finally, ValuEngine cut Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Ferroglobe currently has an average rating of “Hold” and an average target price of $5.57.

About Ferroglobe

Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.

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Institutional Ownership by Quarter for Ferroglobe (NASDAQ:GSM)

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