JPMorgan Chase & Co. Buys 120,877 Shares of Ferroglobe PLC (GSM)
JPMorgan Chase & Co. grew its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 134.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,974 shares of the basic materials company’s stock after acquiring an additional 120,877 shares during the period. JPMorgan Chase & Co. owned 0.12% of Ferroglobe PLC worth $2,521,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Ferroglobe PLC during the first quarter worth $100,000. Invictus RG purchased a new stake in shares of Ferroglobe PLC in the first quarter worth $154,000. Budros Ruhlin & Roe Inc. raised its position in shares of Ferroglobe PLC by 17.2% in the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after buying an additional 2,000 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of Ferroglobe PLC in the first quarter worth $166,000. Finally, American International Group Inc. raised its position in shares of Ferroglobe PLC by 7.1% in the first quarter. American International Group Inc. now owns 40,274 shares of the basic materials company’s stock worth $416,000 after buying an additional 2,664 shares in the last quarter. Hedge funds and other institutional investors own 38.17% of the company’s stock.
Ferroglobe PLC (NASDAQ GSM) opened at 14.33 on Friday. The company has a 50-day moving average price of $13.48 and a 200-day moving average price of $11.66. Ferroglobe PLC has a 1-year low of $8.54 and a 1-year high of $15.09. The company’s market cap is $2.46 billion.
GSM has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday. Jefferies Group LLC reiterated a “positive” rating and issued a $17.00 price objective (up previously from $12.00) on shares of Ferroglobe PLC in a research report on Friday, August 18th. B. Riley reiterated a “buy” rating and issued a $16.00 price objective (up previously from $14.25) on shares of Ferroglobe PLC in a research report on Tuesday, August 29th. Stifel Nicolaus reiterated a “buy” rating on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. Finally, BidaskClub upgraded Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ferroglobe PLC has a consensus rating of “Buy” and a consensus price target of $15.60.
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Ferroglobe PLC Company Profile
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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