Ferroglobe PLC (GSM) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System boosted its position in Ferroglobe PLC (NASDAQ:GSM) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 432,100 shares of the basic materials company’s stock after purchasing an additional 9,400 shares during the period. California Public Employees Retirement System owned about 0.25% of Ferroglobe PLC worth $5,164,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in Ferroglobe PLC in the first quarter worth about $100,000. Budros Ruhlin & Roe Inc. boosted its position in 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 purchasing an additional 2,000 shares during the last quarter. Invictus RG purchased a new position in Ferroglobe PLC in the first quarter worth about $154,000. Balter Liquid Alternatives LLC purchased a new position in Ferroglobe PLC in the second quarter worth about $437,000. Finally, American International Group Inc. boosted its position in 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 purchasing an additional 2,664 shares during the last quarter. 38.16% of the stock is currently owned by institutional investors and hedge funds.
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Several research analysts have issued reports on GSM shares. BidaskClub raised Ferroglobe PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Jefferies Group LLC reissued a “buy” rating and issued a $12.00 target price on shares of Ferroglobe PLC in a research report on Wednesday, July 19th. B. Riley reissued a “buy” rating and issued a $16.00 target price (up from $14.25) on shares of Ferroglobe PLC in a research report on Tuesday, August 29th. Zacks Investment Research cut Ferroglobe PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Ferroglobe PLC currently has a consensus rating of “Buy” and an average target price of $15.60.
Ferroglobe PLC (GSM) opened at 15.21 on Thursday. The stock’s market capitalization is $2.62 billion. The stock’s 50 day moving average price is $13.58 and its 200-day moving average price is $11.80. Ferroglobe PLC has a 52-week low of $8.54 and a 52-week high of $15.25.
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.
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