Banco Santander S.A. Invests $10.01 Million in Ferroglobe PLC (NASDAQ:GSM)

Banco Santander S.A. acquired a new position in shares of Ferroglobe PLC (NASDAQ:GSMGet Rating) in the 1st quarter, Holdings Channel reports. The fund acquired 1,300,000 shares of the basic materials company’s stock, valued at approximately $10,010,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Eagle Investment Management LLC boosted its stake in Ferroglobe by 268.3% in the fourth quarter. First Eagle Investment Management LLC now owns 126,798 shares of the basic materials company’s stock worth $787,000 after buying an additional 92,371 shares in the last quarter. Diametric Capital LP boosted its stake in Ferroglobe by 81.3% in the fourth quarter. Diametric Capital LP now owns 434,205 shares of the basic materials company’s stock worth $2,696,000 after buying an additional 194,741 shares in the last quarter. Wolf Hill Capital Management LP boosted its stake in Ferroglobe by 353.3% in the fourth quarter. Wolf Hill Capital Management LP now owns 2,696,856 shares of the basic materials company’s stock worth $16,747,000 after buying an additional 2,101,887 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new stake in Ferroglobe in the fourth quarter worth approximately $840,000. Finally, Van ECK Associates Corp boosted its stake in Ferroglobe by 21.9% in the fourth quarter. Van ECK Associates Corp now owns 17,965 shares of the basic materials company’s stock worth $112,000 after buying an additional 3,228 shares in the last quarter. Hedge funds and other institutional investors own 31.18% of the company’s stock.

Ferroglobe Stock Performance

Shares of GSM stock opened at $6.19 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.97 and a current ratio of 1.48. Ferroglobe PLC has a fifty-two week low of $4.53 and a fifty-two week high of $11.25. The stock has a 50 day moving average price of $6.18 and a two-hundred day moving average price of $6.80. The company has a market capitalization of $1.16 billion, a P/E ratio of 9.98 and a beta of 2.33.

Ferroglobe (NASDAQ:GSMGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The basic materials company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.15. Ferroglobe had a return on equity of 43.57% and a net margin of 5.76%. The firm had revenue of $715.27 million during the quarter, compared to the consensus estimate of $749.00 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Analysts expect that Ferroglobe PLC will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a research note on Monday, May 23rd.

About Ferroglobe

(Get Rating)

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

Further Reading

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Institutional Ownership by Quarter for Ferroglobe (NASDAQ:GSM)

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