Confluence Investment Management LLC Buys 10,564 Shares of Ferroglobe PLC (NASDAQ:GSM)

Confluence Investment Management LLC grew its stake in shares of Ferroglobe PLC (NASDAQ:GSMGet Rating) by 23.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 56,335 shares of the basic materials company’s stock after acquiring an additional 10,564 shares during the quarter. Confluence Investment Management LLC’s holdings in Ferroglobe were worth $335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GSM. Counterpoint Mutual Funds LLC bought a new position in shares of Ferroglobe in the 1st quarter valued at about $66,000. Royal Bank of Canada grew its position in shares of Ferroglobe by 1,379.7% in the 1st quarter. Royal Bank of Canada now owns 11,379 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 10,610 shares during the period. Keebeck Alpha LP bought a new position in shares of Ferroglobe in the 1st quarter valued at about $91,000. Virtu Financial LLC bought a new position in shares of Ferroglobe in the 1st quarter valued at about $144,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Ferroglobe in the 1st quarter valued at about $168,000. Institutional investors own 40.06% of the company’s stock.

Ferroglobe Price Performance

Shares of NASDAQ:GSM opened at $6.48 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of 4.08 and a beta of 2.25. The company has a current ratio of 1.91, a quick ratio of 1.28 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $6.36 and a 200-day moving average of $6.91. Ferroglobe PLC has a 12 month low of $4.53 and a 12 month high of $9.94.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GSM. B. Riley began coverage on shares of Ferroglobe in a research note on Wednesday. They set a “buy” rating and a $12.00 target price for the company. StockNews.com upgraded shares of Ferroglobe from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 25th.

About Ferroglobe

(Get Rating)

Ferroglobe PLC is a holding company, which engages in the production of silicon and specialty metals. Its products include silicon metal, manganese alloys, ferrosilicon, calcium silicon, and electrodes. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other.

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Institutional Ownership by Quarter for Ferroglobe (NASDAQ:GSM)

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