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Globe Specialty Metals (NYSE:GSM) major shareholder Alan Kestenbaum sold 49,900 shares of Globe Specialty Metals stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $20.31, for a total transaction of $1,013,469.00. Following the transaction, the insider now directly owns 9,686,103 shares of the company’s stock, valued at approximately $196,724,752. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

A number of research firms have recently commented on GSM. Analysts at Zacks downgraded shares of Globe Specialty Metals from an “outperform” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $22.30 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $20.95.

Shares of Globe Specialty Metals (NYSE:GSM) traded up 0.44% during mid-day trading on Monday, hitting $20.39. The stock had a trading volume of 88,099 shares. Globe Specialty Metals has a 52 week low of $11.10 and a 52 week high of $22.00. The stock has a 50-day moving average of $20.72 and a 200-day moving average of $19.56. The company has a market cap of $1.505 billion and a P/E ratio of 84.94.

Globe Specialty Metals (NYSE:GSM) last announced its earnings results on Friday, May 9th. The company reported $0.14 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.14. The company had revenue of $196.06 million for the quarter, compared to the consensus estimate of $194.42 million. The company’s quarterly revenue was up .1% on a year-over-year basis. Analysts expect that Globe Specialty Metals will post $0.51 EPS for the current fiscal year.

Globe Specialty Metals, Inc (NYSE:GSM), is a producer of silicon metal and silicon-based alloys, with approximately 120,000 metric tons (MT) of silicon metal capacity (excluding Dow Corning Corporation’s portion of the capacity of its Alloy, West Virginia plant) and 120,000 MT of silicon-based alloys capacity.

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