Fmr LLC Reduces Position in Ferroglobe PLC (GSM)

Fmr LLC lowered its stake in Ferroglobe PLC (NASDAQ:GSM) by 65.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 590,800 shares of the basic materials company’s stock after selling 1,116,468 shares during the quarter. Fmr LLC owned 0.34% of Ferroglobe PLC worth $7,060,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GSM. Deprince Race & Zollo Inc. boosted its holdings in Ferroglobe PLC by 684.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,693,853 shares of the basic materials company’s stock worth $32,192,000 after purchasing an additional 2,350,450 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Ferroglobe PLC by 65.7% in the second quarter. Russell Investments Group Ltd. now owns 1,705,167 shares of the basic materials company’s stock worth $20,377,000 after purchasing an additional 676,104 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ferroglobe PLC by 22.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,549,930 shares of the basic materials company’s stock worth $36,671,000 after purchasing an additional 657,529 shares during the last quarter. SG Capital Management LLC purchased a new stake in Ferroglobe PLC in the second quarter worth approximately $7,693,000. Finally, Pembroke Management LTD boosted its holdings in Ferroglobe PLC by 44.6% in the second quarter. Pembroke Management LTD now owns 1,402,000 shares of the basic materials company’s stock worth $16,753,000 after purchasing an additional 432,200 shares during the last quarter. Institutional investors own 38.28% of the company’s stock.

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GSM has been the topic of several research reports. Zacks Investment Research cut shares of Ferroglobe PLC from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Stifel Nicolaus raised their target price on shares of Ferroglobe PLC from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. BidaskClub upgraded shares of Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. Finally, B. Riley restated a “buy” rating and issued a $16.00 target price (up previously from $14.25) on shares of Ferroglobe PLC in a report on Tuesday, August 29th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ferroglobe PLC currently has an average rating of “Buy” and an average target price of $16.20.

About Ferroglobe PLC

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.

Institutional Ownership by Quarter for Ferroglobe PLC (NASDAQ:GSM)

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