Clearline Capital LP raised its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 763,753 shares of the basic materials company’s stock after buying an additional 53,370 shares during the quarter. Ferroglobe comprises 6.4% of Clearline Capital LP’s portfolio, making the stock its 4th largest position. Clearline Capital LP owned approximately 0.44% of Ferroglobe worth $12,373,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James & Associates acquired a new stake in Ferroglobe during the fourth quarter valued at approximately $2,267,000. Goldman Sachs Group Inc. raised its stake in Ferroglobe by 93.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 458,634 shares of the basic materials company’s stock valued at $7,430,000 after buying an additional 221,245 shares in the last quarter. Corsair Capital Management L.P. raised its stake in Ferroglobe by 2.0% during the fourth quarter. Corsair Capital Management L.P. now owns 1,455,454 shares of the basic materials company’s stock valued at $23,578,000 after buying an additional 28,725 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in Ferroglobe during the fourth quarter valued at approximately $2,060,000. Finally, Invictus RG raised its stake in Ferroglobe by 143.1% during the fourth quarter. Invictus RG now owns 27,043 shares of the basic materials company’s stock valued at $438,000 after buying an additional 15,921 shares in the last quarter. Hedge funds and other institutional investors own 41.20% of the company’s stock.
Shares of Ferroglobe PLC (GSM) opened at $16.22 on Tuesday. Ferroglobe PLC has a 1 year low of $8.54 and a 1 year high of $17.61. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.09. The company has a market capitalization of $2,799.25, a P/E ratio of 125.31 and a beta of 1.35.
A number of analysts have recently weighed in on GSM shares. BidaskClub upgraded Ferroglobe from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. B. Riley reiterated a “buy” rating and set a $20.00 price target (up from $16.00) on shares of Ferroglobe in a research report on Wednesday, November 29th. Zacks Investment Research cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, ValuEngine cut Ferroglobe from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.50.
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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