Hosking Partners LLP Purchases 840,629 Shares of Ferroglobe PLC (NASDAQ:GSM)

Hosking Partners LLP boosted its position in Ferroglobe PLC (NASDAQ:GSM - Free Report) by 19.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,195,665 shares of the basic materials company's stock after purchasing an additional 840,629 shares during the quarter. Ferroglobe comprises approximately 1.2% of Hosking Partners LLP's investment portfolio, making the stock its 29th largest position. Hosking Partners LLP owned about 2.77% of Ferroglobe worth $27,017,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. General American Investors Co. Inc. acquired a new stake in Ferroglobe in the 3rd quarter valued at about $4,829,000. Boston Partners grew its stake in shares of Ferroglobe by 5.8% in the 3rd quarter. Boston Partners now owns 4,252,458 shares of the basic materials company's stock valued at $22,113,000 after purchasing an additional 233,114 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Ferroglobe in the 2nd quarter valued at approximately $910,000. Masters Capital Management LLC grew its stake in shares of Ferroglobe by 20.0% in the 2nd quarter. Masters Capital Management LLC now owns 3,000,000 shares of the basic materials company's stock valued at $14,310,000 after purchasing an additional 500,000 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Ferroglobe in the 2nd quarter valued at approximately $304,000. 45.29% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Price Performance

Shares of NASDAQ GSM traded down $0.11 during trading on Monday, reaching $4.92. The company had a trading volume of 525,306 shares, compared to its average volume of 1,186,919. Ferroglobe PLC has a twelve month low of $3.95 and a twelve month high of $6.78. The stock has a market capitalization of $922.16 million, a PE ratio of 8.11 and a beta of 2.07. The stock has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $5.39. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.06. The company had revenue of $416.81 million during the quarter, compared to analysts' expectations of $390.35 million. Ferroglobe had a return on equity of 25.45% and a net margin of 6.91%. As a group, sell-side analysts predict that Ferroglobe PLC will post 0.66 earnings per share for the current year.

Analysts Set New Price Targets

GSM has been the topic of several analyst reports. StockNews.com downgraded Ferroglobe from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 6th. TheStreet cut Ferroglobe from a "b-" rating to a "c+" rating in a report on Wednesday, November 8th.

Ferroglobe Company Profile

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.

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