The recent disclosure with the Securities and Exchange Commission (SEC) has brought to light that Russell Investments Group Ltd. has boosted its position in Ferroglobe PLC (NASDAQ:GSM) by an astounding 92.5% in the last quarter. Such a move from the basic materials company, which owns approximately 0.15% of Ferroglobe worth $1,101,000 as of its most recent SEC filing, is quite perplexing and virtuous at the same time.
Ferroglobe had released its quarterly earnings report on February 22nd, where it reported excellent earnings per share (EPS) of $0.42 for the quarter, beating analysts’ expectations by a considerable margin of $0.21. The net margin of 14.42% and a return on equity of 60.74% is commendable and makes one wonder whether this was an incentive behind Russell Investments Group Ltd.’s increased stake.
The company had a revenue of $448.63 million during the quarter; however, analysts had higher expectations standing at $495.60 million. While Ferroglobe has great potential as shown by its impressive results, market analysts anticipate that it will post an EPS of just $0.56 for the current year.
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Overall, Ferroglobe seems like a promising bet with impressive figures emanating from their quarterly report and Russel Investment Group Ltd.’s interest in purchasing additional shares possibly hinting towards bigger gains coming further down the line in this bullish market climate come May 26th, 2023!
Investment Firms Show Increasing Interest in Ferroglobe Amidst Industry Growth and Economic Volatility
Investment firms have been showing an increasing interest in Ferroglobe, with several institutional investors either adding to or reducing their stakes in the company. State Street Corp has lifted its position in the basic materials company by 4.6%, now owning 33,691 shares valued at $259,000. Barclays PLC raised its stake by 50.8%, now owning 6,065 shares valued at $32,000, while Royal Bank of Canada has increased its stake by a staggering 44,350% to own 5,334 shares valued at $28,000. These investments are reflective of a trend towards investing in Ferroglobe as it continues to grow within the industry.
Ferroglobe is a holding company that produces silicon and specialty metals such as silicon metal, manganese alloys, ferrosilicon, calcium silicon and electrodes. The company operates through segments including Electrometallurgy-North America, Electrometallurgy-Europe and Electrometallurgy-South Africa which augment its growth across different geographical locations.
Despite economic volatility resulting from the COVID-19 pandemic and other global challenges that affect supply chains worldwide , Ferroglobe’s stock has remained steady. Its position in NASDAQ (GSM) opened at $4.71 on Friday and holds a market capitalization of $882.80 million while showing consistency across key performance indicators for the past fiscal year.
Analysts like B.Riley who gave Ferroglobe a ‘buy’ rating have played an integral role in ensuring investors have confidence when making decisions about buying shares of Ferroglobe stock.
Individuals who are interested in keeping track of what investment firms hold positions with Ferroglode can visit holdingschannel.com to view recent 13F filings and insider trades for the company. This is an advantageous tool for gaining insight into how other major players within this industry decide to invest their resources concerning this promising holding firm.
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