First Mercantile Trust Co. decreased its stake in shares of Ferroglobe PLC (NASDAQ:GSM) by 26.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,025 shares of the basic materials company’s stock after selling 14,162 shares during the period. First Mercantile Trust Co.’s holdings in Ferroglobe PLC were worth $466,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. increased its stake in Ferroglobe PLC by 1.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 18,810 shares of the basic materials company’s stock valued at $194,000 after buying an additional 255 shares in the last quarter. Suntrust Banks Inc. increased its stake in Ferroglobe PLC by 4.8% in the first quarter. Suntrust Banks Inc. now owns 27,693 shares of the basic materials company’s stock valued at $285,000 after buying an additional 1,261 shares in the last quarter. American International Group Inc. increased its stake 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 valued at $416,000 after buying an additional 2,664 shares in the last quarter. Geode Capital Management LLC increased its stake in Ferroglobe PLC by 5.3% in the first quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock valued at $1,542,000 after buying an additional 7,523 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Ferroglobe PLC by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 418,779 shares of the basic materials company’s stock valued at $4,326,000 after buying an additional 9,648 shares in the last quarter. 40.94% of the stock is owned by hedge funds and other institutional investors.

Shares of Ferroglobe PLC (NASDAQ:GSM) opened at 13.03 on Wednesday. Ferroglobe PLC has a one year low of $7.67 and a one year high of $13.47. The stock’s market capitalization is $2.24 billion. The stock’s 50 day moving average is $12.55 and its 200-day moving average is $10.92.

TRADEMARK VIOLATION WARNING: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.watchlistnews.com/ferroglobe-plc-gsm-shares-sold-by-first-mercantile-trust-co/1493971.html.

Several analysts have recently weighed in on the stock. BidaskClub downgraded shares of Ferroglobe PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. B. Riley reaffirmed a “buy” rating and set a $14.25 price target on shares of Ferroglobe PLC in a research note on Sunday, May 28th. Jefferies Group LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Ferroglobe PLC in a research note on Thursday, May 11th. Zacks Investment Research downgraded shares of Ferroglobe PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Finally, ValuEngine raised shares of Ferroglobe PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $13.04.

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.

Want to see what other hedge funds are holding GSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferroglobe PLC (NASDAQ:GSM).

Institutional Ownership by Quarter for Ferroglobe PLC (NASDAQ:GSM)

Receive News & Ratings for Ferroglobe PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferroglobe PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.